The NED is launching a search facility to help those looking to find people for difficult to fill director positions. Director Search specialises in identifying individuals with risk competencies and other specialist skills so that funds don’t fall foul of BEPS’ rules on Permanent Establishment.

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The CBI is cracking down on directors with more than 20 fund board positions and more than 2,000 hours of work annually. But Irish directors complain that regulations mean their workload per fund is going up. Ireland has kept strict director residency requirements. Something has to give.

Separately The NED has heard that holding more than 20 directorships triggers an automatic inspection by the CBI. The NED understands directors in this position are also called in by the CBI and asked to justify how they can be on so many boards.

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