Domestically, Irish authorised UCITS managers are required to conduct a specific review of their practices, documentation, systems and controls by 31 December 2021; At European level, ESMA published the final report on its guidelines under the Regulation on cross-border distribution of funds.
Asset Management & Investment FundsDomestically, climate change is a key focus of the CBI; At European level, the ECB published their May Supervision Newsletter.
Financial RegulationDomestically, the CBI issued a Dear CEO letter to algorithmic trading firms; At European level, crowdfunding service providers that are subject to the new Crowdfunding Regulation are exempt from MiFID II. The EBA updated phase 1 of its 3.1 reporting framework.
Asset Management & Investment FundsDomestically, the CBI updated forms for payment institutions and Gráinne McEvoy, the CBI's Director of Consumer Protection, spoke to the Joint Oireachtas Committee on Finance, Public Expenditure and Reform on existing consumer protection in Ireland and the Consumer Credit (Amendment) Bill 2018; At European level, the EBA published a climate risk assessment for banks
FinanceThe European Commission's "Communication on Business Taxation for the 21st Century", published on 18 May 2021, sets out a number of tax proposals it aims to have implemented in the immediate future.
TaxCrowdfunding has gathered pace in recent years as an attractive alternative to traditional forms of finance typically offered by banks.
Financial RegulationInsurers entering contracts of insurance with Irish consumers will be impacted by changes to Irish law with effect from 1 September 2021. These changes will affect contracts issued, varied or renewed from that date.
Insurance & ReinsuranceDigital operational resilience has been the focus of governments and regulators across sectors lately, which is unsurprising given that information and communications technology (ICT) is a key enabler for the business models of most financial services providers.
Financial RegulationThe CJEU was asked to comment on the scope of Article 9(2) and (3) of the Aarhus Convention relative to the entitlement of the public to seek "access to justice" on environmental matters.
Environmental & PlanningOn 21 May 2021, the UK's competition and consumer law regulator, the Competition & Markets Authority (CMA), issued, for consultation, draft consumer protection law guidance for all businesses making environmental claims.
BelfastOn 5 May 2021, the European Commission (Commission) proposed a Regulation (Regulation) which, if adopted, would address potentially distortive effects of foreign subsidies in the EU.
EU, Competition & ProcurementThe Minister for Public Expenditure and Reform recently published the General Scheme of the Protected Disclosures (Amendment) Bill.
Employment
