Q. Regulation 107(2)(c) of the Central Bank UCITS Regulations requires a management company to notify the Central Bank in writing immediately that the management company becomes aware of "the bringing of any legal proceedings by or against the relevant UCITS or the management company". What information does the Central Bank expect to receive in such a notification?
A. The notification should disclose the existence of the legal proceedings and indicate the nature of the proceedings. Dates for hearings should be advised to the Central Bank as they become known.