On 14 August 2020, the European Commission approved, under the EU State aid rules, a €2bn loan guarantee programme by Ireland to support businesses affected by COVID-19.
COVID-19On 13 August 2020, the European Commission and the UK Government published the agenda for the seventh round of the UK-EU Future Relationship Agreement. This round will be held between 18 and 21 August 2020 in Brussels.
BrexitA group of 16 major European banks has announced the implementation phase of a new unified payment scheme and solution called the European Payments Initiative (EPI).
EU, Competition & ProcurementOn 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 Regulation
