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On 28 April 2026, Ireland's Minister for Finance, Simon Harris, enacted Statutory Instrument No. 182/2026, amending the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011. The amendment implements Directive (EU) 2024/927 into Irish law and introduces significant changes to the regulation of undertakings for collective investment in transferable securities (UCITS). The regulations, which came into operation on 1 May 2026 (with the exception of Regulation 10, effective 16 April 2027), introduce comprehensive liquidity management tools for UCITS. These include suspension of subscriptions and redemptions, redemption gates, extended notice periods, redemption fees, swing pricing, dual pricing, anti-dilution levies, redemption in kind, and side pockets. UCITS must select at least two appropriate liquidity management tools, except for money market funds, which may select only one. The amendment strengthens governance requirements for management companies, mandating that at least two persons meeting specified conditions conduct business and are domiciled in the European Union. Enhanced reporting obligations require management companies to regularly report to competent authorities on markets, instruments, liquidity arrangements, risk profiles, stress test results, and delegation arrangements. The Central Bank of Ireland (the Bank) must share this information with other Member States' competent authorities, the European Securities and Markets Authority (ESMA), the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Systemic Risk Board (ESRB). The regulations expand management company service provisions to include reception and transmission of orders and benchmark administration. Enhanced due diligence requirements apply to delegation arrangements, with management companies required to justify their entire delegation structure on objective reasons. Amendments to the Central Bank Act 1942 incorporate these provisions into Ireland's supervisory framework. REFERENCES: Statutory Instruments - Irish Statute Book: S.I. No. 182/2026 - European Union (Undertakings for Collective Investment in Transferable Securities) (Amendment) Regulations 2026