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Ireland shakes up fund rules in bid to improve management

Reuters Investment funds based in Ireland will no longer have to hire two Irish residents as directors under a central bank plan to improve oversight of one of the global fund industry's biggest hubs. Thousands of funds worth an estimated 1.5 trillion euros (1.18 trillion pounds) are based in Ireland, attracted by its position in the EU and its tax exemptions. The funds' promoters, usually fund …

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