Domestically, the Personal Injuries Resolution Board Act 2022 was commenced. At European level, EIOPA published a supervisory statement on the use of governance arrangements in third countries to perform functions or activities and it also published a report on insurers' use of climate-related adaptation measures in non-life underwriting practices.
Financial RegulationDomestically, revised SFDR Level 2 regulations have come into force. The CBI have confirmed the regulatory flexibility measures previously communicated during COVID-19 will not be extended. At European level, the SFDR Level 2 has been updated to include nuclear/gas in accordance with the Complementary Climate Delegated Act. ESMA have updated its Q&As in relation to UCITS and AIFMD.
Asset Management & Investment FundsDomestically, the CBI has published the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Investment Firms) Regulations 2023 and an addendum to the guidance on the Central Bank Client Asset Requirements. At European level, ESMA published the final report on opinion on the trading venue perimeter.
Asset Management & Investment FundsDomestically, CBI published a 'Dear CEO' letter setting out the CBI's key regulation and supervisory priorities for 2023 and also updated the Beneficial Ownership Register FAQs. At European level, the European Supervisory Authorities met stakeholders from across the financial sector amid preparations for the Digital Operational Resilience Act.
Financial RegulationDomestically, the CBI published FAQs in relation to the Ireland Safe Deposit Box, Bank and Payment Accounts Register. At European level, the European Union (Money Laundering and Terrorist Financing) (Use of Financial and Other Information) Regulations 2023 have been published.
FinanceOur Northern Ireland office advised on over 75% of all reportable deals in NI during 2022 by reference to value, according to official rankings published today by global information services company Experian.
BelfastIn this article, we examine recent case law surrounding sex discrimination, identify areas of good practice for employers and discuss future employment law developments that appear to be on the horizon.
EmploymentThe English High Court has ruled that it had jurisdiction to hear an underlying claim from a user of the defendant's cryptocurrency exchange, notwithstanding the existence of a binding arbitration clause in the terms and conditions designating San Francisco as the seat of arbitration. Read more here.
DisputesThe Court of Justice of the European Union (CJEU) recently considered the mandatory disclosure requirements on lawyer intermediaries under the EU Mandatory Disclosure Regime or DAC6.
DisputesThe English High Court ruled that it had jurisdiction to hear an underlying claim from a user of the defendant's cryptocurrency exchange.
DisputesFurther to last week's enactment of the Central Bank (Individual Accountability Framework) Act 2023, the Central Bank of Ireland has now launched a three-month Consultation on key aspects of the implementation of the Individual Accountability Framework, including the publication of draft Regulations and draft Guidance.
Regulatory Risk & InvestigationsThe EU's Foreign Subsidies Regulation came into force on 12 January 2023 and grants sweeping new powers to the European Commission to tackle harmful non-EU subsidies.
EU, Competition & Procurement
