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.
EmploymentThis Act will come into force from 1 January 2018 and will increase obligations to consider mediation for dispute resolution.
DisputesThe 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.
FinanceIn 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 & TechnologyThe 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 & ComplianceThis 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 RegulationAt 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 RegulationOn 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 RegulationThis update covers CBI updates of AIFMD and UCITS Q&As, CBI letter to industry on Brexit preparedness, ESMA updates of Q&As on AIFMD and UCITS, Money Market Funds,, EuVECAs and EuSEFs, ESMA work on charges and mutual fund returns, and IOSCO.
Financial RegulationThis month the Commission and the ECB undertook its eighth post-programme surveillance mission to Ireland which highlighted that the Irish economy will continue to remain strong in the short term but risks do remain which are primarily linked to the outcome of the negotiations of Brexit and the increase of property prices.
Financial RegulationIrish politicians and diplomats did a superb job at landing a very good Phase 1 Report on the Brexit talks.
BrexitEuropean Commission and UK report sufficient progress made on Phase 1 of the Brexit Talks
Brexit
