Post Authorisation for AIF Managers
There are ongoing requirements in relation to AIF Managers (AIFMs) that fall outside the scope of previous sections.
This section highlights some of these requirements and how they are dealt with.
The following list is not exhaustive and is intended to serve as a guide only. If any AIFM is unclear of its obligations they should contact the Funds Supervision Division.
Change of Director/Manager
Any change of director/manager should be notified to the Central Bank. This includes both proposed appointments and resignations. All proposed appointees are subject to the ‘Fitness & Probity’ regime as outlined in the Supervision section.
Change in Qualifying Holding
Changes to qualifying holdings in AIFMs are subject to the approval of the Central Bank; details of the exact requirements are set out in the AIF Rulebook. Firms are obliged to advise the Central Bank on an annual basis of its ownership structure.
The attached Acquiring Transaction Notification Form is to be used to provide prior notification to the Central Bank of proposed changes to qualifying holdings.
The Central Bank would appreciate a pre-engagement discussion with proposed acquirers prior to submission of the Acquiring Transaction Notification Form (ATNF). Please contact the Authorisation team by email - [email protected] to arrange a pre-engagement discussion on proposed ATNF's.”
“The Joint Committee of the European Supervisory Authorities has issued guidelines to competent authorities across the EU, including the Central Bank of Ireland. These guidelines are titled 'Joint Guidelines on the prudential assessment of acquisitions and increases of qualifying holdings in the banking, insurance and securities sectors' (“the Guidelines”). The Guidelines replace the previous EU-wide guidelines on the prudential assessment of acquisitions and are in force from 1 October 2017.”
Change of Company name
The Central Bank must first approve any change in company name before it is submitted to the Companies Registration Office (CRO).
Capital Contributions and Subordinated Loans
Capital Contributions and Subordinated Loans are accepted as part of the financial resources requirement provided they are executed in accordance with the Central Bank's approved format. Copies of the forms are available in the Forms section.
Change of Address
Any change of address by a firm must be notified in advance to the Funds Supervision Division. This will allow supervisors to update Central Bank records and systems on a timely basis.
Other changes
If there is uncertainty regarding whether a change constitutes a material change for regulatory purposes you should contact relevant supervisors directly.