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Jurisdiction(s):
Ireland

Ireland: Authorising and Operating UCITS Management Companies—Super ManCos (AIFM), MiFID Top-ups, Passporting, Operating Conditions, Central Bank of Ireland Supervision and Withdrawal

Practice notes
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Scope of this Practice Note

This Practice Note delves into the notion of Super ManCos, i.e. firms authorised to administer both UCITS and alternative investment funds (AIFs), highlighting the advantages of dual authorisation. It also outlines the route to securing MiFID permissions, enabling UCITS ManCos to undertake supplementary activities. In addition, it explains the passporting entitlements that permit UCITS ManCos to operate across EU Member States, either via branch establishments or under the freedom to provide services. The note further considers engagement with the Central Bank of Ireland (CBI), detailing its supervisory functions and the circumstances in which authorisation can be revoked. Overall, this document acts as a key reference for organisations seeking to navigate the Irish regulatory framework for UCITS ManCos. For further details on UCITS funds, see Practice Note: Ireland—Authorisation of a UCITS in Ireland...

Regulatory framework

The Irish regulation of UCITS ManCos consists of a suite of interlinked measures at both EU and domestic levels. At EU level, Directive 2009/65/EC—Undertakings for Collective Investment in Transferable Securities IV (recast) (the UCITS Directive) sets out the principal requirements for UCITS and their service providers, in particular UCITS ManCos. The implementation of the...

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Derek Lawlor
Derek Lawlor , BL

Derek is a partner in Simmons & Simmons and leads the firm’s financial services regulation practice in Dublin. Derek advises extensively on the regulatory and conduct obligations which apply to Irish credit institutions, MiFID investment firms as well as other financial service providers including e-money institutions, payment services providers and virtual asset service providers. Derek also advises on the EU sustainable finance regime, including the Taxonomy, and on Irish conduct rules, including the proposed new individual accountability regime and SEAR....

Jeffrey Horahan
Jeffrey Horahan

Jeffrey joined Simmons & Simmon’s Dublin office in 2022 and is a member of the firm’s financial services regulation team. Jeffrey is a barrister and a Fellow of the Chartered Institute of Arbitrators.Jeffrey primarily advises on the Irish and EU regulatory perimeter, and works across a wide range of clients. He advises on MiFID II, payment services, e-money and cryptoasset regulation, securities regulation, domestic banking regulation, AML, fitness & probity matters, environmental, social and governance (ESG) issues and sustainable finance, and the rules of the Central Bank of Ireland.Prior to joining the firm, Jeffrey practiced at the Bar of Ireland for a number of years. During this time, Jeffrey was an adjudicator for the Financial Services and Pensions Ombudsman, a panel member for the provision of legal and related services to the Central Bank of Ireland, appointed an Independent Appeals Office for the...

Web page updated on 22/05/2026

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