On 12 August 2020, Ireland's Department of Business, Enterprise and Innovation published a press release about a meeting between: (a) the Minister for Trade Promotion, Digital and Companies Regulation, Robert Troy TD and (b) Ireland's Competition and Consumer Protection Commission (CCPC).
EU, Competition & ProcurementIreland's competition and consumer agency has just published its annual report. The Competition and Consumer Protection Commission reviews the agency's activities during 2019.
EU, Competition & ProcurementThe phrase "State Aid" is used every day in business. But the phrase has a technical meaning in European Union law. So what does the concept mean in EU law?
EU, Competition & ProcurementIreland’s government has said it will empower the country’s antitrust enforcer to fine companies for anticompetitive conduct, although it still faces significant opposition and constitutional challenges.
EU, Competition & ProcurementAmendments to the UCITS and AIFMD legislative frameworks have been proposed on sustainability risks and sustainability factors to be taken into account for UCITS and AIFMs.
Asset Management & Investment Funds
By dramatically curtailing many economic activities in Ireland and across the world, COVID-19 has had significant consequences for consumers and financial service providers.
COVID-19
Following political and media focus on insurers' approach to COVID-19 business interruption claims, the Central Bank of Ireland has published its COVID-19 and Business Interruption Insurance Supervisory Framework.
COVID-19Domestically, the CBI published an updated guidance note on completing an application for authorisation as a retail intermediary; At European level, the European Commission has launched a public consultation as part of its review of the key elements of Solvency II.
Financial RegulationDomestically, the CBI has published a notice of intention in relation to the application of the ESMA guidelines on liquidity stress testing in UCITS and AIFs; At European level, the European Commission has published an updated notice to stakeholders concerning Brexit and EU rules in the area of post-trade financial services.
Financial RegulationDomestically, there was strong focus on the impact of COVID-19 on the financial sector generally, in the immediate and longer term, as well as the impact of COVID-19 on the wider economy; At European level, the European Commission also published a roadmap for sustainable finance.
Financial RegulationDomestically, the CBI has published its regular markets update; At European level, ESMA postponed a number of implementation dates due to COVID-19, such as the implementation date for the CSDR settlement scheme. ESMA also published a number of reports and updates as the half-year mark has passed.
Financial RegulationDomestically, the banking sector is focused on COVID-19 as the pandemic continues; At European level, here was a focus on MREL this month, culminating in the publication of final draft ITS on 3 August 2020. COVID-19 continues to be prominent, with authorities issuing a number of statements and guidelines aimed at combatting the economic fallout of COVID-19
Financial Regulation
