On the Domestic Front: Central Bank of Ireland issues a press release with regard to its themed inspection in relation to conflicts of interest in Investment Firms New Member Firm Rules and Market Parameters published by the Irish Stock Exchange; On the EU Front: ESMA publishes its Trends, Risks and Vulnerabilities Report No. 1 2016 on European Union (EU) securities markets
Financial RegulationOn the Domestic Front: CBI Director of Markets Supervision highlights key issues of culture, technology and cyber risk Central Bank’s inspection targets 325 non-compliant retail intermediary firms; On the EU Front: The ECB adopts Annual Report on supervisory activities
Financial RegulationOn the Domestic Front: UCITS V transposed into national law; On the European Front: Corrigendum to UCITS V Directive is published UCITS V Delegated Regulation is published
Financial RegulationOn the Domestic Front: Judgment in the Law Society of Ireland v MIBI appeal; On the EU Front: European Commission requests technical advice on IDD
FinanceESMA Guidelines on sound remuneration policies under the UCITS Directive and AIFMD Delegated Regulation supplementing UCITS V on obligations of depositaries UCITS Infringement reporting form template
Asset Management & Investment FundsOn the International Front we look at a Corrigendum to UCITS V Directive, CMU, the ESMA market risk indicator, SFTR, Risk Mitigation for OTCs and a European Commission overview of level 2 legislative measures for financial services
Asset Management & Investment FundsOn the Domestic Front, we look at Deadlines, UCITS V, Investor Money Regulations / Umbrella Cash Accounts and Conflicts of Interest.
Asset Management & Investment FundsA&L Goodbody reported on the recommendations arising out of the Migration Advisory Committee's (MAC) Review into Tier 2 Migration in our Immigration E-zine in January 2016.
Pensions & IncentivesIn McCann -v- Halpin & anor [2016] IESC 11, the receiver applied to the High Court for directions pursuant to Section 316(1) of the Companies Act 1963, in relation to the exercise of his powers as receiver over the property and assets of Elektron and Crossplan.
DisputesOn 16 March 2016, the Advocate General (AG) delivered an Opinion, in McFadden v Sony Music Entertainment Germany GmbH Case-484/14, that a business offering free WiFi access to the public cannot be held liable for copyright infringement committed by a user of that WiFI.
Commercial & TechnologyIn Purcell v Central Bank of Ireland, The AG and Ireland [2016] IECA 50 the Court of Appeal considered the extent to which 'without prejudice' privilege, which attaches to documents and communications between the Central Bank and the subject of an administrative sanctions procedure for the purpose of 'settling' that process, might be waived.
DisputesIn Farrell & Kelly v Petrosyan & Ors (linked to McLoughlin & anor v ACC Loan Management Ltd), High Court, O'Connor J, 2 March 2016 the High Court considered an application for possession on behalf of receivers appointed by ACC Loan Management Limited (ACC). One of the issues before the court was whether the receivers had authority to act in the proceedings in view of their deeds of appointment by
Restructuring & Insolvency