Authorisation Process for UCITS Management Companies

All applicants seeking to provide services to collective investment schemes are requested to contact the Central Bank of Ireland in advance of making a formal application.

It is normal practice for the Central Bank to engage with new applicants to discuss their proposed business prior to beginning the authorisation process. 

This serves a dual purpose by enabling the Central Bank to familiarise itself with the background and business credentials of the applicant whilst identifying, at a critical early stage, any potential issues with the proposed business. 

Applicants seeking authorisation as a UCITS Management Company pursuant to the UCITS Regulations 2011, (“the Regulations”) must submit:

• A completed UCITS Management Company - Business Plan Checklist.
• A completed Individual Questionnaire (“IQ”) in respect of each director and senior manager, where relevant
• A detailed business plan which takes account of the requirements of the Guidance on Organisation of UCITS Management Companies and Fund Management Companies Guidance.

In completing an IQ, applicants are directed to the Fitness & Probity Requirements. Applications that do not contain the key authorisation documents listed above will be regarded as incomplete and will be returned to the applicant.

Each applicant should bear in mind the nature of its proposed business and structure in preparing an application for submission.  Submissions should be made on ORION.

The Central Bank will advise the applicant of any additional information or clarification required, having reviewed the documentation submitted, by issuing detailed written comments to the applicant or its legal representative, as appropriate.