In July 2017, the Environmental Protection Agency ('EPA') produced its 2016 Enforcement Report. A few key points are particularly worth noting.
Environmental & PlanningIn this case commentary, Alison Fanagan, Consultant in Environmental law, considers the decision of Barrett J in the High Court of Connolly v An Bord Pleanála (14 June 2016), and in particular, what implications the decision may have for An Bord Pleanála (and other competent authorities) in formulating decisions relative to proposed developments that involve Environmental Impact Assessment (EIA) a
Environmental & PlanningOn the Domestic Front: CCPC publishes its Mortgages Options Paper; Central Bank launches a Consultation in order to update their 2014 Implementation Notice in relation to the exercise of Options and Discretions arising from the CRD Regulations and CRR. On the EU Front: EBA publishes its Annual Report for 2016; EBA updates final guidelines on Disclosure Requirements pursuant to the CRR.
FinanceOn the Domestic Front: Central Bank publishes revised guidance on Share Classes and updated Central Bank UCITS Questions and Answers. On the EU Front: Money Market Funds Regulation published in the Official Journal; Commission addresses cross-border distribution and supervision of UCITS and AIFs.
Asset Management & Investment FundsOn 23 June 2017 the Government published the Information about People with Significant Control (Amendment) Regulations 2017. Two important changes have been made to the current PSC regime:
BelfastOn the Domestic Front: Central Bank publishes Markets Update, Issue 4 2017; Central Bank publishes updated Q&As on the Investment Firm Regulations 2017. On the EU Front: Commission publishes proposal to amend the EMIR with accompanying Q&As on the proposal; ESMA publishes updated MiFID II/ MIFIR Investor Protection Q&As.
Asset Management & Investment FundsThe Article 29 Working Party (WP29) has recently provided its Opinion 2/2017 on data processing at work.
Commercial & TechnologyOn the Domestic Front: Central Bank publishes Macro-Financial Review; Central Bank publishes Insurance Quarterly Newsletter. On the EU Front: EIOPA publishes Annual Report for 2016; EIOPA publishes Supervisory Assessment of the Own Risk and Solvency Assessment.
Financial RegulationOn the Domestic Front: Central Bank publishes discussion paper on the Consumer Protection Code and the Digitalisation of Financial Services. On the EU Front: ESMA publishes its Annual Report for 2016; ESAs publish final guidelines on the factors to be considered when carrying out Simplified and Enhanced Customer Due Diligence to assess Money Laundering and Terrorist Financing Risks; ECB announces
Financial RegulationMatthew Cole (Corporate and M&A Partner) provides an overview of the process, regulatory architecture, public company responsibilities and risks in relation to IPOs in Ireland.
Capital Markets - EquityUnder the Companies Act 2014 (the 2014 Act), Irish private limited companies may be incorporated as either a company limited by shares (CLS) or a designated activity company (DAC). The Companies (Accounting) Act 2017 (the Accounting Act) which came into force on 2 June 2017 included welcome amendments to the 2014 Act which impact the aircraft leasing community and the use of Designated Activity Companies for aircraft finance and leasing transactions. Prior to the Accounting Act, a company entering into the business of finance leasing needed to be a DAC entity rather than a CLS.
Aviation & Transport FinanceIn Allied Irish Banks Plc v McKeown & anor [2017] IEHC 363, the High Court (Costello J) granted orders for summary judgment, on the basis that the loans and guarantees were valid, and even if the defendants were to succeed in a counterclaim for overcharged interest, this would not be enough to set off the judgments awarded against them.
Finance
