Minister of State at the Department of Finance with responsibility for international financial services, Simon Harris TD welcomes the authorisation by the Central Bank of the first investment fund established as an Irish Collective Asset-management Vehicle (ICAV) in accordance with the Irish Collective Asset-management Vehicles Act 2015. The ICAV Act was commenced by the Minister for Finance on 12 March.
Speaking yesterday in Dublin after addressing the joint Departmental and EU Commission workshop on Capital Markets Union, Minister of State, Simon Harris TD said
“I welcome the authorisation of the first ICAV by the Central Bank of Ireland. I understand that the Central Bank was geared up to receive the first application for authorisation shortly after the Act was commenced. It is important that Ireland’s regime for investment funds is supported by predictable response times from the independent regulator.
I hope the ICAV can play its part realising our vision for the continued development of international financial services in Ireland”
Note for Editors
This is a new corporate vehicle for investment funds outside the Companies Acts. The ICAV Bill 2014 was published in July 2014 and passed through the Oireachtas on 19 February 2015. The Act was commenced on 12 March 2015.
1 April, 2015
