Domestically, 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 RegulationMany employers have recently been reviewing their annual leave policies and addressing employees' annual leave requests, in circumstances where travel restrictions have been in place during the current pandemic.
Pensions & IncentivesThe scheme of arrangement of Nordic Aviation Capital DAC had a number of innovative features and is another clear endorsement the scheme process can be used to implement complex, cross border restructurings.
Restructuring & Insolvency
The Companies (Miscellaneous Provisions) Act 2020 is a welcome clarification of certain company law issues faced by companies during the COVID-19 pandemic.
Corporate & M&ADemand for hybrid and all-electric cars has increased dramatically in recent years across the world, thanks to significantly improved distance ranges on a single charge and a wide range of incentive schemes for buyers.
Energy & Natural Resources BelfastBrexit impact and response for counterparties to FDI and SFTs and issuers with a UK CSD for EMIR, MIFIR, SFTR, CSDR and SFD, PRIIPs KID, liquidity stress testing, external support under MMFR, CMU, SFTR, AML/CFT.
Asset Management & Investment FundsLiquidity stress testing, Beneficial Ownership filings for ICAVs and Unit Trusts, reporting RBO discrepancies, Schrems II, MIFID II appropriateness, Madoff, CBI QIAIF authorisation seminar, CBI markets update.
Asset Management & Investment FundsIs Irish company law being updated to assist companies in complying with the law during the COVID-19 pandemic?
Asset Management & Investment FundsOn the 23 July 2020, the European Data Protection Board (EDPB) adopted FAQs on the Schrems II judgment. The FAQs provide answers to questions received by EU data protection authorities (DPAs) and will be developed and complemented by the EDPB in due course.
Technology
"Never waste a good crisis", so the saying goes – the Government proposes reforms which are needed not just to respond to COVID-19, but also to further modernise Irish litigation.
COVID-19
