Domestic News – There have been some developments at domestic level, including a speech by Acting Governor of the CBI, Sharon Donnery on issues facing the Irish economy. The CBI also published several Submission Templates and pieces of Guidance on their website under the Prospectus Regulation. There have been many developments at a European level, including the publication of Regulation (EU) 2019.
Financial RegulationWith the immediacy (and uncertainty) of Brexit, the MSA's is not top of the list for many organisations. However, July 2019 saw a significant development in this legislation with the UK Government's commitment to toughen section 54 of the MSA, specifically in regard to enforcement following the launch of a new consultation (the Consultation)...
Employment & Incentives BelfastThere is currently some commentary in the marketplace regarding the recently enacted Local Government Rates and Other Matters Act 2019 which is giving rise to concerns that landlords will be required to assume liability for their tenants’ rates. This arises from a particular section of the Act which provides that, on the sale of property which is subject to rates, the vendor must first discharge..
Commercial PropertyCatherine Duffy, Vincent Power and Eileen Roberts, Partners at A&L Goodbody, provide an overview of shipping law, the shipping industry, shipping contracts, regulation and the legislative framework in Ireland.
EU, Competition & ProcurementIn Clarke v Colorman (Ireland) Ltd [2019] IEHC 50, the Commercial Court determined that an expert determination clause in a Shareholders' Agreement could be enforced through the granting of a stay on Commercial Court proceedings on the basis that expert determination would protect confidential commercial information.
DisputesLast year more than 10,000 people were granted Irish citizenship. In light of developments in the High Court in the past two weeks, many of these people may count themselves lucky.
EmploymentA review of State Aid law and policy in Ireland 2019
EU, Competition & ProcurementThe 2018 annual report (Report) of Ireland's Competition and Consumer Protection Commission (CCPC) has been laid before the Houses of the Oireachtas (the Irish parliament) and is expected to be published by the CCPC shortly.
Corporate and M&AIn recent weeks you will have seen the high-profile press coverage of the Information Commissioner’s Office (ICO) announcement of its first potential fines under the GDPR enforcement regime. British Airways (BA) and Marriott International Inc. have been notified by the ICO that it intends to fine them £183.39m and £99.2m respectively. The scale of these fines has put down a clear marker for data
BelfastESMA issued a consultation on guidelines for performance fees in UCITS on 16 July 2019. The date for responses to the consultation is 31 October 2019...
Asset Management & Investment FundsCross-border fund distribution improvements from August 2021 The following Capital Markets Union proposals on the cross-border distribution of funds (CBDF) were published in the Official Journal of the EU. They will come into force on 1 August 2019. Directive (EU) 2019/1160 (the Directive) amending the UCITS Directive and the AIFMD with regard to the cross-border distribution of collective i...
Asset Management & Investment FundsUpdated Central Bank Guidance on the use of financial indices by UCITS The Central Bank of Ireland (Central Bank) issued updated guidance on the use of financial indices by UCITS on 23 July 2019. The certification process initially introduced by the Central Bank in October 2018 guidance was welcome. That guidance has been further updated to clarify the circumstances where an index certificatio...
Asset Management & Investment Funds