The Irish Minister for Finance and Public Expenditure & Reform, Mr Paschal Donohoe, made his Budget speech to the Irish Parliament on Tuesday 8 October 2019 and published the Finance Bill 2019 on 17 October 2019.
FinanceLet us assume that the negotiators in the “tunnel” agree a deal, then what happens next?
BrexitCustoms unions might be described as a form of free trade agreements (FTA) in which parties to such an agreement agree to provide each other with certain trade benefits such as no tariffs on trade in goods within such a union.
EU, Competition & ProcurementAt a domestic level, the Register of Beneficial Owners went live and the Central Bank finalised its Anti-Money Laundering Guidelines. At EU level, the ECB made some statements in relation to 'stablecoins' and there were a number of different surveys and reports published relating to the future of the financial system.
Financial RegulationThis month, the Central Bank publishes new rules to be included in the Consumer Protection Code 2012 and the Central Bank Deputy Governor voiced concern over readiness of insurance companies for Brexit; EIOPA published an opinion on sustainability within Solvency II and published a report on cyber resilience frameworks for insurers
Financial RegulationOn the domestic front: CBI issued a consultation paper CP130 on the treatment, correction and redress of errors in investment funds; plus details of CBI deadlines for Christmas 2019 and more. In European News, ESMA issued guidelines on liquidity stress testing in UCITS and AIFs and details on China's foreign exchange...
Financial RegulationThis month, the Central Bank introduced an addendum to its Consumer Protection Code which includes new rules around the payment of commission to financial intermediaries; At EU level, ESMA issued its latest double volume cap data.
Financial RegulationThis month, the Credit Reporting Act 2013 was amended to avoid duplication for lenders or other CIPs subject to other verification obligations; At EU level, the ECB introduced a two-tier system for remunerating excess liquidity holdings and made comments in relation to future concerns around the financial system.
Financial RegulationThis summer we saw the introduction of the Parental Leave (Amendment) Act, 2019 which extended unpaid parental leave from 18 to 22 weeks and a further extension to 26 weeks' parental leave by 2020. This week, the Government published the new Parent's Leave and Benefit Bill 2019. This Bill is expected to be enacted on or before 1 November 2019.
EmploymentKey messages from Mr Paschal Donohoe, the Irish Minister for Finance and Public Expenditure & Reform on 8 October 2019
TaxThe past decade has seen a marked and continuing shift in global focus towards greater accountability and responsibility for decision making in the financial sector - no doubt influenced by the fallout of financial crisis.
Insurance & ReinsuranceOn 27 September 2019, the European Commission (Commission) announced that it had fined two companies a total of €31.6m for breaching EU antitrust rules. A third company involved was not fined as it had disclosed the existence of the breach to the Commission.
EU, Competition & Procurement
