Public consultation on the exercise of the national discretions in Directive (EU) 2024/927 of the European Parliament and of the Council of 13 March 2024 amending Directives 2011/61/EU and 2009/65/EC.
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The Department of Finance invites interested parties to make submissions in relation to the exercise of national discretions in Directive (EU) 2024/927 of the European Parliament and of the Council of 13 March 2024 amending Directives 2011/61/EU and 2009/65/EC as regards delegation arrangements, liquidity risk management, supervisory reporting, the provision of depositary and custody services and loan origination by alternative investment funds.[1]
Transposition of Directive (EU) 2024/927 will be led by the Department of Finance (“the Department”) with technical assistance provided by the Central Bank of Ireland (“the Central Bank”). The vast majority of the domestic legal measures required to give effect to Directive (EU) 2024/927 will be included in transposing legislation to be devised by the Department following this public consultation. However, it is envisaged that the transposition process will also necessitate changes to Central Bank rules, for example, in relation to the loan origination framework. These legislative and regulatory developments can be progressed in parallel, though it is acknowledged that there may be interdependencies in some aspects of this work.
The deadline for this public consultation is 17 January 2025.
How to respond to this consultation paper
If you wish to respond to this consultation paper you may do so either electronically or in writing by 17 January 2025, as set out below. Submissions received after this deadline will not be considered.
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Electronically at |
By Post to |
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https://consult.finance.gov.ie |
AIFMD Review, Financial Services Division, Department of Finance, Government Buildings, Upper Merrion Street, Dublin 2, D02 R583, Ireland. |
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If responding by post please complete Annex 1 and submit a printed copy of this Annex along with your response to the consultation. |
In responding to this consultation you are invited to:
- Give your views on the specific questions set out in the consultation paper. You do not have to answer every question – you may choose to answer all of the questions or only those which are relevant to you.
- Provide details of any issues or concerns you feel should be considered in dealing with the particular topic being addressed in your response.
- Where appropriate, provide some analysis or views on the regulatory and/or financial impact of the proposed approach.
- The information requested in the About You section (Annex 1) must be completed by all respondents to the public consultation.
Next steps
The submissions received in response to this public consultation will be taken into consideration when deciding how best to transpose Directive (EU) 2024/927 into Irish law.
Targeted stakeholder engagement with representative bodies and other interested groups or individuals may be conducted following the conclusion of the public consultation.
Notices
Responses to this consultation are subject to the provisions of the Freedom of Information Act 2014 (FOI), Access to Information on the Environment Regulations 2007-2018 (AIE) and the Data Protection Act 2018.
Parties should note that the contents of submissions received in response to the consultation may be published on the Department’s website. Personal data will be redacted prior to publication. In responding to this consultation paper, parties should clearly indicate where their responses contain personal information, commercially sensitive information or confidential information which they would not wish to be released under FOI, AIE or otherwise published.
We would like to draw your attention to the Data Privacy Notice on the Department’s website which explains how and when we collect personal data, why we do so and how we treat this information. It also explains your rights in relation to the collection of personal information and how you can exercise those rights.
Disclaimer
Nothing in this document constitutes legal advice or any other form of advice, nor should it be construed as such.
Please note that neither the Department of Finance nor the Minister for Finance assume any liability for the accuracy or completeness of the information contained in this consultation document.