The European Commission has launched a public consultation on the review of the MiFID II/MiFIR regulatory framework. The consultation will be open until 20 April 2020. Interested parties should note that this consultation is separate to the consultations periodically conducted by ESMA.
Asset Management & Investment Funds
The European Union (Qualifying Partnerships: Accounting and Auditing) Regulations 2019 (the 2019 Regulations) have come into operation for financial years beginning on or after 1 January 2020. These new requirements represent a significant increase in responsibilities for partnerships not previously subject to such requirements.
The Financial Services and Pensions Ombudsman (FSPO) last week published 25 Legally Binding Decisions, which were issued between January 2019 and January 2020 regarding tracker mortgage interest rates. In short, of the 25 complaints in respect of which Legally Binding Decisions were published, 17 complaints were not upheld, 6 complaints were substantially or partially upheld, and 2 complaints...
Disputes
On 28 February 2020, Ireland's Competition and Consumer Protection Commission (CCPC) announced that it had closed its investigation into alleged anti-competitive practices in the "bagged cement sector".
EU, Competition & ProcurementESMA on Sustainable Finance, ESMA TRV report, SFTR reporting obligations for non-EU AIFs,consultation on third country firms, AIFMD MoUs, ESRB issues with the AIFMD framework, ESMA's product intervention powers, Brexit, AML/CTF
Asset Management & Investment FundsLiquidity, CBI review of PRISM, Property Funds, CBI Review of Stakeholder Engagement and Key frameworks, Diversity, Market Conduct and Market Abuse and CBI Markets Update.
Asset Management & Investment FundsWhat's relevant in 2020 in ESG legislation and policy for UCITS managers and AIFMs?
Asset Management & Investment Funds
The Irish Revenue Commissioners have published the Betting Duty and Betting Intermediary Duty (Amendment) Regulations 2020 (the Regulations), offering relief to small independent bookmakers from the 2% betting duty levied on every bet entered into with persons in the State. The relief applies to bookmakers that hold an Irish bookmaker, remote bookmaker or remote betting intermediary's licence.
Betting, Gaming & Licensing
The 'Rule in Battle' (the Rule) states that corporate entities may be represented only by lawyers who have a formal right of audience in court proceedings and not by non-lawyer directors or shareholders.
Disputes
In Malone v Fenlon & Ors [2019] IEHC 934, the High Court found that a plea of absolute privilege as a defence to a claim in defamation was insufficiently clearly made out to justify striking out the claim.
Disputes
On 21 February 2020, the European Commission imposed a fine of €6,678,000 on the Spanish hotel group Meliá for its contracts with four tour operators which discriminated between customers within the EU's internal market by reference to the customer's country of residence. Dr Vincent J G Power examines the case.
EU, Competition & Procurement
In this three part series we review wider considerations for employers which, whilst falling outside the ambit of routine employment law issues, are worth noting. This article addresses inventions created by employees.
Belfast
