Collective Investment Schemes

We asked for views in relation to three areas:

• Topic 1 – the widening of the definition of collective investment schemes to include a limited number of Closed-Ended Investment Companies (‘CEICs’);
• Topic 2 – possible exemption for managers, asset managers, or investment advisers to Specialist Funds; and
• Topic 3 – the draft Collective Investment Schemes (Recognised Schemes) Ireland Order.

We received seven responses to the consultation.

For Topic 1, responses were supportive or neutral.

For Topic 2, responses were supportive. Some specific queries were made.

For Topic 3, no comments were made.

After considering the responses, we made some minor changes to the terminology within the Collective Investment Schemes (Definitions) Order and Collective Investment Schemes (Regulated Fund) Regulations to improve clarity. The new legislation came into operation on 1 November 2017.