Dáil Éireann Debate, Wednesday - 30 April 2025
38. Deputy Pearse Doherty asked the Minister for Finance to provide an update on engagement he has had with the central bank in relation to identifying the gaps in available data on the investment funds sector and the steps being taken to address the lack of information available to the regulator making specific reference to unregulated funds; and if he will make a statement on the matter. [21466/25]
View answerMy officials continue to work closely with the Central Bank of Ireland (CBI) to identify gaps in available data on the investment funds sector.
The CBI is committed to using data to deliver optimal supervisory outcomes. At a European level, the CBI are working with the European Securities and Markets Authority (ESMA) and peer National Competent Authorities (NCAs) on the development of enhanced reporting arising from revisions to the UCITS and AIFMD frameworks. This work will be ongoing over the next number of years. Data gaps in relation to investment funds is a key area focus of this work.
Additionally, an Integrated Reporting Task Force has been established by ESMA to address data sharing across the EU and the CBI will participate in this work. The CBI is also engaging in relevant European discussions on the topic of data as it relates to non-bank financial intermediation systemic risk, covering access, sharing and coverage, as well as similar discussions internationally with the Financial Stability Board (FSB) and the International Organization of Securities Commissions (IOSCO).
The CBI implemented a new daily investment fund return, collecting data on investor flows from each fund on a daily basis, this measure addressed a previously identified data gap. Phase 2 of this implementation, scheduled for the second half of 2025, will gather data on the use of liquidity management tools, whereby funds will report any change in the use of these measures to the CBI as they occur.
