Domestically the updated and consolidated Central Bank UCITS Regulations came in to effect and concluded its review of UCITS performance fees. On the european front, ESMA updated its AIFMD and UCITS Q&A's on depositary functions this month
Financial RegulationDomestic News – There have been several developments at domestic level, including the implementation of a ban on the sale of binary options and the restriction of the sale of contracts for difference (CFDs) by the Central Bank of Ireland (CBI). A speech was also delivered by the Director of Consumer Protection about banking culture and the drawbacks of a proposed bank remuneration policy. Europ...
FinanceSo-called 'smash & grab' adjudications have been the subject of much debate in the construction industry in the last 18 months.That debate looks set to continue as permission has been granted for an appeal to the Supreme Court - the final court of appeal for civil cases in the United Kingdom.
On 5 July 2019, Ireland's Competition and Consumer Protection Commission (CCPC) announced that it had cleared the proposed acquisition of sole control of MCD Productions Unlimited Company (MCD) by LN-Gaiety Holdings Limited (LN-Gaiety). This is subject to a number of commitments that will satisfy concerns raised by the CCPC. The notification process was long. The notification was made on 14 Aug...
Corporate and M&AMatthew Cole (Corporate and M&A Partner) provides an overview of the IPO process, regulation, public company responsibilities and risks in relation to IPOs in Ireland. First published in the 'Initial Public Offerings 2019' (Third Edition) by Global Legal Insights...
Capital Markets - EquityOn 21 June 2019, Judge Garrett Simons delivered his judgment in Heather Hill Management Company CLG v An Bord Pleanála (Burkeway Homes Limited as Notice Party) [2019] IEHC 450. In this case, Heather Hill Management Company CLG and Gabriel McGoldrick (the Applicants) challenged a decision of An Bord Pleanála (the Board) to grant permission for a Strategic Housing Development in Co. Galway.
Environmental & PlanningThe long standing test concerning the legal possession of land has been challenged in the landmark case of Thorpe v Frank [2019] EWCA Civ 150.
Commercial Property BelfastIn Eustace v. The Lord Mayor, Aldermen and Burgesses of Drogheda Borough Council [2019] IEHC 455 the plaintiffs sought damages for trespass, nuisance and misfeasance in public office arising from permission granted to a construction company to install a slip road and sewer connection on the plaintiffs' land (which was later the subject matter of a compulsory purchase order by Drogheda Council)...
DisputesThe Department of Finance recently received approval from Cabinet to draft the heads of a Central Bank (Amendment) Bill. Minister for Finance, Paschal Donohoe, has stated his intention to publish the heads of this Bill before the end of 2019. The legislation is intended to give the Central Bank increased regulatory powers in order to stimulate greater accountability and transparency in the fin...
Financial RegulationThe MSA's has been criticised in the past for being all bark and no bite. The lack of enforcement action or penalty within the original legislation being cited as making the legislation a moral compass only. However, recent case law points towards a sea change of approach with both civil and criminal law sanctions being applied.
BelfastThe Government has recently launched a draft Marine Planning Policy Statement (MPPS), which outlines a programme of legislative reform to modernise the Irish marine planning system. At present, the planning process for a development in a marine area is quite complicated. A development such as an offshore wind farm, for example, requires a number of permissions from different bodies in order t...
DisputesData Centres (DCs) are predicted as being a significant user of Irish energy resources in the future. Innovative renewable energy solutions will be required to meet this demand and minimise the need for grid reinforcement. ALG has advised on such solutions for DCs with renewable energy operato...
Data Centres