On 23 July 2015 the European Securities and Markets Authority (ESMA) published a consultation paper in respect of its guidelines on sound remuneration policies under the UCITS Directive and AIFMD (the CP). This consultation closed in October 2015.
Asset Management & Investment FundsWhile executives are very familiar with the concept of securing merger control approval for the acquisition of companies, there are situations where the acquisition of assets (such as property) may require prior approval by the competition agencies.
EU, Competition & ProcurementEuropean Court hands down preliminary ruling on anti-competitive concerted practices in the context of online selling platforms - Case C‑ 74/14, Eturas and Others.
Commercial & TechnologyIrish defamation claims must be brought quickly or they will become time barred. Proceedings must be issued within a year of the publication of the defamatory statement. In "exceptional circumstances" this period can be extended to two years.
DisputesCommissioner Dixon gave a report on the work of the Office of the Data Protection Commissioner (ODPC) for the year 2015, and outlined the priorities of her office for 2016 in a presentation to delegates attending the National Data Protection Conference
Commercial & TechnologyOn 1 February 2016, the European Securities and Markets Authority (ESMA) published a new Q&A document on the application of the UCITS Directive, as most recently revised by UCITS V.
Asset Management & Investment FundsOn the Domestic Front: Items including the following - Finance (Tax Appeals) Act 2015 is signed by the President – not yet commenced - Credit Union regulations imposing a limit on individual members' savings are now in force - Central Bank of Ireland publishes the first Quarterly Bulletin for 2016.
FinanceOn the Domestic Front: The Central Bank published issue 9 of 2015 of its Markets Update. On the EU Front: European Commission publishes letter to ESMA on application of AIFMD passport.
FinanceOn the EU Front: Items including the following - ESMA Consultation Paper on the development of MiFIR guidelines - ESMA Guidelines on Cross-Selling Practices under MiFID II now applicable.
Financial RegulationOn the Domestic Front: Items including the following - Central Bank of Ireland publishes new regulations for firms lending to SMEs - Central Bank of Ireland develops a methodology for a broader examination of tracker mortgage-related issues.
FinanceOn the Domestic Front: Items including the following - Central Bank feedback on review of annuity sales process - Central Bank guidance in relation to Fitness and Probity obligations for (re)insurers. On the European Front: Items including the following - Third set of Solvency II Implementing Regulations published - EIOPA Solvency II technical information published.
FinanceFollowing the CJEU decision in the Schrems Case on 6 October 2015 invalidating the Safe Harbour regime, the Article 29 Working Party (the group comprised of representatives of European national data protection authorities (Article 29WP)) gave the EU and US a three month timeline in which to agree a political solution to replace Safe Harbour.
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