Updated code of listing requirements for investment funds
An updated code of listing requirements and procedures for investment funds was released by the Irish Stock Exchange (ISE) in July 2013, to coincide with the implementation of the Alternative Investment Fund Managers Directive (AIFMD). The updated code contains a number of enhancements, which included an overhaul of the format of the code as well as the following key changes.
- All directors, whether in situ at the time of listing or appointed afterwards, are responsible for ensuring compliance with the listing requirements.
- The requirement that a counterparty or a prime broker must have a specified credit rating for short-term debt has been removed.
- The conditions under which a fund is permitted to exercise a transfer restriction or a compulsory redemption have been significantly broadened. A fund may now exercise a transfer restriction or a compulsory redemption where it ‘is in the best interests of the fund or its shareholders as a whole’…
Click on the link below to read the rest of the LK Shields Solicitors briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from LK Shields Solicitors
Briefings from LK Shields Solicitors
Existing rules in the fight against money laundering and terrorist financing are updated.
A recent Supreme Court decision in family law proceedings has upheld an unprecedented High Court finding of fraudulent concealment of assets.