Domestically, the Governor and other members of the CBI's leadership team gave important speeches related to the economic outlook due to COVID-19, and focused on the impact of the pandemic for firms, households and the economy as a whole; At European level, ESRB published a number of sector-wide recommendations made in response to COVID-19.
Financial RegulationDomestically, there was a strong focus on consumer protection this month. The CBI issued a Dear CEO letter in relation to unregulated products and associated consumer protection issues; At European level, the EBA announced it has started delivering on the implementation of the new regulatory framework for investment firms, and launched a series of consultation papers...
Financial RegulationDomestically, the CBI published its first Financial Stability Review of 2020, which was coloured by the impact of COVID-19; At European level, the EBA published a number of regulatory technical standards relating to own funds requirements and calculation of stress scenario risk measures under CRR2.
Financial RegulationDomestically, the CBI has published guidance for retail intermediaries on the requirement to hold professional indemnity cover, and has launched a consultation paper on regulations for pre-emptive recovery planning for (re)insurers; At European level, It has also launched a consultation on (re)insurance value chain and new business models arising from digitalisation.
Financial RegulationDomestically, the CBI has created a section on its website with information on the Central Beneficial Ownership Register for Certain Financial Vehicles; At European level, ESMA has made proposals regarding the pricing process for UCITS and AIFs; the European Commission has published draft delegated acts on the integration of sustainability risks and factors into the UCITS and AIFMD frameworks...
Financial Regulation
On 1 July 2020, as the Irish economy was re-opening after the COVID-19 lockdown, Ireland's Competition and Consumer Protection (CCPC) warned businesses to act independently when setting prices and charges.
COVID-19It comes as no surprise that the Programme for Government agreed by Fine Gael, Fianna Fáil and the Green Party (the Programme) features green elements across a variety of policy headings.
EU, Competition & ProcurementYou reap what you sow. What will be the consequences of countries across the EU pumping trillions of euro into businesses because of the Covid Crisis? What are the lessons which we should learn and apply?
EU, Competition & Procurement
On the first 1 July the UK Government implemented its Flexible Furlough Scheme in an effort to accommodate the re-opening of businesses across the UK.
COVID-19 BelfastInvestment firms will be aware that we are twelve months away from the implementation of the Investment Firms Directive and the Investment Firms Regulation...
DisputesThe High Court has upheld a claim brought by the National Electrical Contractors of Ireland...
EmploymentThe next step has been taken to establish a Central Register of Beneficial Ownership of Irish Collective Asset-management Vehicles and Unit Trusts. The Central Bank of Ireland (CBI) is expected to establish the Register of Beneficial Ownership of Irish Collective Asset-management Vehicles and Unit Trusts under Irish legislation that came into effect on 25 June 2020.
Asset Management & Investment Funds
