The publication of long anticipated draft outline legislation to reform Irish gambling laws and establish an independent gambling regulator, now appears to be imminent. In a response to a parliamentary question last week Minister of State at the Department of Justice, James Browne indicated that the General Scheme of the Gambling Bill is "at an advanced stage" and would be published "shortly"
Betting, Gaming & LicensingOn 11 October 2021 the Department of Environment, Climate and Communications and the Commission for Regulation of Utilities simultaneously published two important (and interrelated) consultations on the first proposed offshore wind subsidy scheme and offshore grid connection policy.
Energy & Natural ResourcesThe High Court has recently made a decision confirming the process that applies when considering whether or not to remit a planning application, where permission has been granted and then overturned following judicial review.
Environmental & PlanningDomestically, the CBI published the latest issue of its Insurance Quarterly Newsletter; At European level, EIOPA published updated representative portfolios to calculate volatility adjustments to the Solvency II risk-free interest rate term structures, and the criteria for the independence of supervisory authorities.
Financial RegulationDomestically, the European Commission released a statement regarding the operation of the Protocol on Ireland/Northern Ireland; At European level, European banking authorities released a joint letter on Basel III, the ESAs issued their second joint risk assessment report for 2021, and ESMA published its 2022 annual work programme.
Financial RegulationDomestically, the Central Bank issued its latest markets update; At European level, the European Commission is preparing to issue €250bn of NextGenerationEU green bonds.
Asset Management & Investment FundsDomestically, Governor Makhlouf’s pre-Budget 2022 letter was published. Governor Makhlouf spoke about the ECB strategy review at the DEW Annual Economic Policy Conference 2021; At European level, the EBA published its annual update on EU banks’ funding plans.
FinanceDomestically, the CBI updated its AIFMD Q&A and UCITS Q&A; At European level, the European Commission adopted the PRIIPS RTS setting out detail of the content and format of the KID.
Asset Management & Investment FundsKey messages from the Irish Minister for Finance, Paschal Donohoe, and the Irish Minister for Public Expenditure and Reform, Michael McGrath on Irish Budget Day 12 October 2021.
TaxNorthern Ireland is in the process of consulting on both a new energy strategy (in particular on renewable energy) and also on new climate change legislation.
ESG & SustainabilityIreland will sign up to the OECD Inclusive Framework political agreement on the two-pillar approach, following approval by the Irish Cabinet.
TaxIn July of this year, the European Commission announced a package of legislative proposals designed to strengthen the EU's framework of laws on anti-money laundering and countering the financing of terrorism (AML/CFT).
Asset Management & Investment Funds
