Domestically, the CBI proposes new Pre-Approval Control Functions roles; At European level OJ publishes Commission implementing Regulation on the calculation of technical provisions and basic own funds in Q1 2020
FinanceDomestically, the CBI issued a detailed UCITS liquidity questionnaire to certain Irish UCITS fund management companies and Irish UCITS for completion in March 2020; At European level ESMA published its Strategy on Sustainable Finance.
FinanceDomestically, Central Bank of Ireland Governor, Gabriel Makhlouf delivered a speech at the Financial Forum in Dublin in which he discussed the changes of the past decade and the potential challenges for the decade ahead.; At European level the EBA has released a report calling for greater diversity on institutions' boards
FinanceDomestically, the Central Bank has published its first edition of Questions and Answers on EMIR and has published a 'Dear CEO' letter on Securities Market Conduct Risk; At European level the European Commission has launched a review of MiFID II.
FinanceDomestically, the Central Bank has delivered speeches on the topics of diversity at Board level and the role of Central Banks in shaping public policy; At European level the Central Bank has launched a public consultation on its guide to assessing CRR.
Finance
A restricted share or “clog” arrangement provides a tax efficient means of rewarding employees who receive free or discounted shares from their employer. Normally, the value of the shares (or the discount) is a taxable benefit in kind giving rise to income tax, USC and employee PRSI.
Commercial Contracts
Consideration of what employers need to do as the incidents of coronavirus (Covid-19A) appear across the world is fast changing and under constant review. Ireland is no different.
Employment
The Department of Justice and Equality has published its Annual Report on Money Laundering and Terrorist Financing for 2018 (the Report).
Asset Management & Investment Funds
The European Commission has launched a public consultation on the review of the MiFID II/MiFIR regulatory framework. The consultation will be open until 20 April 2020. Interested parties should note that this consultation is separate to the consultations periodically conducted by ESMA.
Asset Management & Investment Funds
The European Union (Qualifying Partnerships: Accounting and Auditing) Regulations 2019 (the 2019 Regulations) have come into operation for financial years beginning on or after 1 January 2020. These new requirements represent a significant increase in responsibilities for partnerships not previously subject to such requirements.
The Financial Services and Pensions Ombudsman (FSPO) last week published 25 Legally Binding Decisions, which were issued between January 2019 and January 2020 regarding tracker mortgage interest rates. In short, of the 25 complaints in respect of which Legally Binding Decisions were published, 17 complaints were not upheld, 6 complaints were substantially or partially upheld, and 2 complaints...
Disputes
On 28 February 2020, Ireland's Competition and Consumer Protection Commission (CCPC) announced that it had closed its investigation into alleged anti-competitive practices in the "bagged cement sector".
EU, Competition & Procurement
