Asset Management Update

To help you stay informed on the latest trends and developments in the asset management industry, KPMG’s Asset Management team, in collaboration with KPMG Law, has curated a selection of key resources. Explore expert insights and stay up to date with the issues shaping the future of the sector.

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KPMG insights

Financial and capital market updates - Q4 2025

KPMG Financial Instruments (KFI) team have put together insights; highlighting a sense of cautious confidence, as improving inflation dynamics and clearer policy signals helped stabilise investor sentiment.
Rising uncertainty in credit markets

Explore the key factors driving volatility in global credit markets, how uncertainty is impacting lenders and borrowers, and what to watch in the months ahead. Get the insights here.
Directors’ Remuneration & Board Composition Report

Rio Howley and Aislinn Feely, from our Financial Services Audit team, have compiled a guide to provide a comprehensive overview of board composition and directors’ remuneration, applicable for Irish UCITS Funds plc.
AMLA readiness: staying ahead of the regulatory tidal wave

On May 30, 2024, the European Union adopted a far-reaching reform of the regulations for preventing money laundering and terrorist financing. The new requirements will apply as of July 10, 2027. Read our recent publication to keep up with rising regulatory expectations.
Withholding Tax Study 2025

In recent years withholding tax (WHT) management has attached increased focus from directors and investors, given the potential impact on NAV for some funds. Explore the full report, by Philip Murphy and Gareth Bryan, to get the insights in relation to corporate Irish regulated investment funds.

Central Bank of Ireland (CBI) updates

Fitness and Probity Standards

Revised guidance (Nov 2025) clarifies board independence, time commitments, and new PCF/CF roles. Annual PCF confirmations via the CBI portal from 1 January 2026.

Central Bank of Ireland Feedback Report:

ESMA Common Supervisory Action on Sustainability Risks and Disclosures in the Investment Funds Sector

CBI’s Oct 2025 sustainability CSA feedback calls for ongoing monitoring, better data, and clear SFDR disclosures. Boards must maintain formal frameworks and regular independent oversight.

Post Authorisation Processes for UCITS

The CBI has simplified the process for certain fund documentation amendments, excluding changes to investment objectives or strategies, resulting in streamlined post-authorisation filings.

European Securities and Markets Authority (ESMA) updates

ESMA to launch Common Supervisory Action on MiFID II conflicts of interest requirements

ESMA’s 2026 Common Supervisory Action will focus on conflicts of interest under MiFID II. Peer reviews recommend enhanced depositary oversight in Ireland.

Industry and other updates

Commission simplifies transparency rules for sustainable financial products

The EU plans three new fund categories, 70% asset alignment, and shorter disclosures, with an 18-month transition.

Regulatory technical standards specifying the characteristics of liquidity management tools

New delegated regulations require funds to select at least two LMTs (e.g., swing pricing, redemption gates, side pockets). Effective 16 April 2026, with a one-year transition for existing funds.

European Commission updates list of high-risk countries to strengthen international fight against financial crime

The EU’s high-risk third-country list was updated in December 2025. CBI’s financial crime bulletin highlights the need for robust transaction screening and ongoing risk assessment.

Market integration package

Proposals aim to streamline fund passporting, harmonise authorisations, and enhance cross-border operations. Consultations on EU growth capital funds are expected in 2026.

Key actions and deadlines

Map existing ESG products to new SFDR 2.0 categories and prepare for new disclosure templates.
Select and document at least two LMTs per open-ended fund ahead of April 2026.
Update AML/CFT frameworks and sanctions screening in line with EU and CBI guidance.
Review benchmark usage and ESG ratings disclosures for compliance with new rules.