Operational fund governance in Ireland at a time of international crisis

Presented by

Pat Lardner, Irish Funds; Yvonne Connolly, Carne Group; Philip Dempsey, Sanne Group; Rachel Turner, BNY Mellon

About this talk

Following the 2008 financial crisis, firms allocated considerable resource to meet regulators’ requirements. As well as giving consumers greater protection, a major aim of post-2008 regulation was to make the financial system stable and more robust. Now, with the financial shock caused by Covid-19, panellists will discuss whether they think the regulatory efforts have been effective in mitigating the current crisis. Speakers include: •Nick Fitzpatrick, Group Editor, Funds Europe & Funds Global (Moderator) •Pat Lardner, Chief Executive, Irish Funds •Yvonne Connolly, CEO Ireland, Carne Group •Philip Dempsey, Country Head Ireland, Sanne Group •Rachel Turner, EMEA Head of Investment Managers & Insurance, BNY Mellon Some of the topics covered and questions asked will include: •How are fund boards and designated persons expected to respond to the Covid-19 emergency and what can they expect from regulators and outsourcing partners as Ireland and other relevant jurisdictions operate under lockdown? •How can funds and service providers support ongoing regulatory requirements arising from 2008 as well as additional ones created by the current situation. •ESMA’s recently recommendations to market participants that covered issues such as business continuity planning, risk management, and reporting on short positions. •The requirement for funds with high PRISM ratings to report daily on certain risks, such as liquidity, valuations and cybersecurity. •How safe would it be for the funds industry to expect some leniency or flexibility from regulators at this time, and in what areas?

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