Legal Updates & Insights: P1728 -A&L Goodbody LLP

Legal Updates & Insights

  • Article

    WP29 publishes guidance on transparency

    On 12 December, 2017, the Article 29 Working Party (WP29) published its Guidelines on Transparency.

    Asset Management & Investment Funds
  • Article

    CBI Statement on Variation Margin requirements for physically settled FX forward contracts

    The CBI issued a statement setting out their intended response to the requirement for financial counterparties to exchange mandatory variation margin (VM) for physically-settled FX forwards from 3 January 2018

    Asset Management & Investment Funds
  • Article

    Central Bank – Anti-Money Laundering Bulletin on Discontinuance of Business Relationship – Section 33 (8) CJA

    The Central Bank of Ireland (CBI) has published an Anti-Money Laundering Bulletin addressing Section 33(8) of the Criminal Justice (Money Laundering and Terrorist Financing) Act, 2010 (CJA). The Bulletin outlines the types of steps firms may take to comply with Section 33(8) (a) and (b) and separately addresses CDD measures in relation to new and existing customers.

    Asset Management & Investment Funds
  • Article

    Political agreement reached on 5AMLD

    The European Commission issued a press release which includes a factsheet and which states that the Council of the EU and the European Parliament have reached political agreement on the proposed 5AMLD.

    Asset Management & Investment Funds
  • Article

    New Bill to tackle uncertain working conditions – an end to zero hours?

    On 7 December 2017 the Government published the long awaited Employment (Miscellaneous Provisions) Bill 2017. The Bill is designed to tackle some of the difficulties caused by the increasing casualisation of work and use of zero hours' contracts. It also aims to provide greater certainty to employees with precarious working conditions.

    Employment
  • Article

    Mediation Act 2017

    This Act will come into force from 1 January 2018 and will increase obligations to consider mediation for dispute resolution.

    Disputes
  • article

    Financial Services and Pensions Ombudsman Act 2017 to come into force on 1 January 2018

    The Financial Services and Pensions Ombudsman Act 2017 which amalgamates the Financial Services Ombudsman and the Pensions Authority into an Office of the Financial Services and Pensions Ombudsman (FSPO) is due to come into force on 1 January 2018.

    Finance
  • Article

    Court ordered defendant to make data access request in aid of discovery

    In Susquehanna International Group Ltd v Needham [2017] IEHC 706, Baker J in the High Court considered the novel question of whether a court should order a person to make discovery of documents that they could obtain on foot of a data access request.

    Commercial & Technology
  • Article

    UK Corporate Governance Code undergoes a review

    The UK Corporate Governance Code (the Code) is undergoing a review by the Financial Regulatory Council (FRC) in the UK.  A consultation process was announced by the FRC on 5 December, with a view to making changes to the Code to reflect the changing business environment in the UK.

    Corporate Governance & Compliance
  • Article

    Financial Services Regulation & Compliance - Cross Sectoral Nov 2017

    This month alert warnings have been issued by ESMA on the high risks associated with initial coin offerings while in Ireland the Central Bank has consulted on the rules concerning the payment of commission and other inducements to intermediaries.

    Financial Regulation
  • Article

    Financial Services Regulation & Compliance - Investment Firms Nov 2017

    At a domestic level, it has been another relatively quiet month for investment firms. The Central Bank has outlined the reporting requirements for IIA Non-Retail Investment Business Firms and also provided feedback on CP111. From a European perspective, MiFID and MiFIR related activity continue to dominate with ESMA issuing a number of updates to its Q&A's on both pieces of legislation.

    Financial Regulation
  • Article

    Financial Services Regulation & Compliance - Insurance Nov 2017

    On the Domestic front the Central Bank proposes new rules in intermediary inducements, consults on the approach to third-country branches and proposes new insurance renewal requirements. At a European level, EIOPA consults on second set of advice on the Solvency II Delegated Regulation.

    Financial Regulation