Irish regulator calls on policy-makers to replenish toolkit

Gareth Murphy, markets director at Central Bank of Ireland, discusses the regulator's upcoming inspection on outsourcing, its review of governance arrangements at funds and implementation of AIFMD

Your staff at the Central Bank of Ireland will undertake an inspection next year on outsourcing. What will it focus on? 
Outsourcing was among the areas of focus when we announced our series of themed inspections last February. Already, we have looked at how the net asset value (NAV) calculation process works, particularly round-the-clock, follow-the-sun types of models. Some administrators initiate the process and hand the book over to another sister office, like the way FX books are managed