Central Bank of Ireland publishes new UCITS Regulations 2026

Country reference

• Country: Ireland (planned expansion country)
• Authorities: Central Bank of Ireland
• Topic: Central Bank UCITS Regulations 2026
• Key date: Published July 2026; no transitional period
• Law: Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (UCITS) Regulations 2026

What changed

• Liquidity tools: a new section on side pockets, suspensions, swing pricing and redemption gates; suspension notices must be given without delay.
• Redemption gates: the 10% minimum trigger is removed.
• Performance fees: hurdle rates and fulcrum fees are allowed, with limits on crystallisation frequency.
• ETFs: different cut-off times for cash and in-kind dealing without a derogation; ETF naming at share class level.
• Fees: new disclosure of the maximum recurring NAV-based fee.
• Reporting: one flexible requirement linked to Central Bank guidance.

Timing

There is no transitional period. Existing UCITS can update documents through a streamlined filing process.

Also from the central bank

Consultation CP170 on how the Central Bank assesses the impact of regulation and consults the industry closed on 30 September 2026; a feedback statement will follow.

What to do now

• Managers: update prospectuses for liquidity tools and fee disclosures.
• ETF issuers: review dealing cut-offs.
• Investors: expect fund documents to change over the coming months.

Our take

Ireland and Luxembourg host most EU funds sold to Gulf investors. Both are updating rules for AIFMD II, so expect similar changes in fund documents from both.