On the domestic front it has been a relatively quiet month, the Central Bank of Ireland published an update to its Q&As on Investment Firms. On the European front ESMA has updated its Q&As on Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). ESMA has also updated its commodity derivatives transitional transparency requirements.
Financial RegulationOn the domestic front the Financial Services and Pensions Ombudsman published legal binding decisions and the Central Bank of Ireland (CBI) issued a consultation paper on a new levy calculation methodology for insurers. On the European front a proposal for a Directive of European Parliament and of Council amending Directive 2009/138/EC (Solvency II) was published. The European Insura...
Financial RegulationOn the domestic front the Central Bank of Ireland (CBI) launched a consultation relating to new draft Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) guidelines for the financial sector. On the European front ESMA and the EU Securities Regulators agree no-deal Brexit memorandum of understanding (MoU).
Financial RegulationOn the domestic front the Department of Finance published a report on Capital Requirements and Macroprudential policy. On the European front we have seen quite a few updates this month. The European Central Bank (ECB) published a single code of conduct for high level officials and monetary policy decisions. The ECB also published a consolidated Guide to assessments of licence applications.
Financial RegulationThe Modern Slavery Act ("the MSA") is an evolving piece of legislation. In an attempt to develop the legislation, the UK Government announced an independent review of the MSA. The members of the review have now published their second interim report which addresses the issue of transparency in supply chains. The report makes a number of recommendations which the Government should consider in...
Pensions & IncentivesThe European Union (Anti-Money Laundering: Beneficial Ownership of Trusts) Regulations 2019 (the Regulations) were signed by the Minister for Finance and came into force on 29 January 2019. The Regulations require trustees of certain Irish trusts to establish and maintain registers of beneficial ownership. The Regulations transpose into Irish law the obligations imposed on EU member states by...
Asset Management & Investment FundsAnna-Marie Curran, EU, Competition & Procurement Partner and Jessica Egan, EU, Competition & Procurement Solicitor provide a practical insight into public procurement in Ireland. First published in 'The International Comparative Legal Guide to: Public Procurement 2019' (11th Edition) by Global Legal Group.
EU, Competition & ProcurementToday marks 50 days before the UK is scheduled to leave the European Union (EU). The question now is not so much will the UK leave the EU but on what terms?
BrexitNew legislation is being considered by the Irish government and could soon be commenced.
Gender Pay GapOver the course of 2018 Ireland took a number of steps towards introducing mandatory gender pay gap (GPG) reporting into Irish law. there are currently two separate bills on GPG reporting working their way through legislative process: the Government's Gender Pay Gap (Information) Bill and the separate Irish Human Rights and Equality Commission (Gender Pay Gap) Information Bill 2017.
BrexitOn 1 February 2019 ESMA confirmed the agreement of no-deal Brexit MoUs with the FCA. One MoU is between the European Securities and Markets Authority (ESMA) and the Financial Conduct Authority (FCA) of the United Kingdom (UK) covering the exchange of information in relation to credit rating agencies and trade repositories.
Asset Management & Investment FundsA legal guide to Acquisition and Leveraged Finance in Ireland
Finance
