Ireland steps up monitoring of UK fund market over Brexit

Central Bank of Ireland asked fund investment companies to immediately notify it of any large-scale mutual fund withdrawals
Ireland steps up monitoring of UK fund market over Brexit
The Irish central bank has opted to further scrutinize investment fund activity as part of its Brexit preparedness
By Bloomberg
Sun 26 May 2019 07:52 AM

The Central Bank of Ireland has increased its monitoring of the UK investment market as it prepares for Brexit, the Financial Times reported.

The bank asked fund investment companies to immediately notify it of any large-scale mutual fund withdrawals, the FT reports, citing a confidential request sent in December. The Irish central bank has opted to further scrutinize investment fund activity as part of its Brexit preparedness, the newspaper said, citing the letter.

FT says the Central Bank of Ireland and fund administrators BNY Mellon, Northern Trust, JPMorgan, Brown Brothers Harriman and State Street all declined to comment.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.