Central Bank of Ireland: Response to the Funds Sector 2030 Review
October 2023The Central Bank of Ireland (CBI) has issued a response to the Department of Finance Funds Sector 2030 Review in which they set out five priority areas critical to the future development of the investment funds sector in Ireland:
1) Delivering positive outcomes for the domestic economy and investors
- Securing investor interests.
- Ensuring good governance and customer focus in the sector.
- Enabling investors to access well regulated products that meet their savings and investment needs.
- Ensuring that funds deliver value for investors.
- Improving financial literacy and education.
- Realising the full potential of the sector as a source of alternative financing for the real economy and SMEs.
2) Developing a Macro-Prudential framework for investment funds
- Monitoring and managing risks to financial stability.
- Developing a macroprudential framework for investment funds.
- Engaging with international organisations and other national authorities to coordinate efforts.
3) Maintaining Regulatory Effectiveness
- Ensuring that the regulatory framework remains up to date and effective.
- Identifying important sectoral features and trends and developing appropriate policy and regulatory responses (delegation/sectoral change).
- Supporting international policy and development and sharing our expertise and knowledge.
4) Sustainable Finance
- Supporting new product development and innovation.
- Ensuring the delivery of high quality ESG products.
- Supporting the sector’s contribution to carbon neutrality.
- Protecting investors against greenwashing.
5) Digital Transformation
- Encouragement and support for innovators and innovative products and services.
- Supporting efforts to develop new use cases for digitisation and tokenisation.
- Managing emerging risks.
Read the full response
here.