IMIA October Updates

The IMIA held its monthly member meeting this morning 17th October via Zoom. A number of important updates were shared with members including:

• In early October, the Central Bank published a Conduct Risk Assessment of Telephone and Electronic Communications in MiFID Firms. One of the IMIA member firms kindly gave a detailed update of their views on the CRA and key areas that all firms can improve on to ensure that they have adapated to a hybrid working model and that the use of personal devices is being adequately monitored.
• ESMA launched a CSA with National Competent authorities on the integration of sustainability in firms’ suitability assessment and product governance processes and procedures in October 2023, reviews are expected to place throughout 2024. Some Fund Management Companies received a CSA Questionnaire on Sustainability over the summer which was shared with the wider membership.
• The Central Bank published an implementation notice on the ESMA Guidelines on MiFID II product governance requirements (2023). Firms are expected to comply from 3^rd October. The IMIA are currently working on a presentation on Product Governance and Distribution.
• The IMIA submitted a response to the Funds Sector 2030 Consultation Paper submitted to the Department of Finance at the end of September. This response was shared with members and uploaded to the members area of the website.

Please email contact@imia.ie for more information on how to join,