Just as the Olympics open with the ritual words "let the Games begin...", so too the Brexit talks begin in Brussels today. The EU side is led by Michel Barnier who is the European Commisson's Chief Negotiator and an experienced EU Commissioner. The UK side is led by David Davis who is Secretary of State for Exiting the European Union and was tipped yesterday as the next leader of the Conservative
BrexitConducting a fair investigation can be a legal minefield for many employers and a recent High Court decision (Michael Lyons v Longford Westmeath Education and Training Board) has gone a step further, seemingly adding to employees' procedural armoury! The Court held that where one outcome of an investigation was potential dismissal or an adverse impact on the employee's reputation, the employee has
Pensions & IncentivesIn Aldi Stores v Dunnes Stores [2016] IEHC 256, the High Court refused to order Aldi to elect between a claim in damages and an account of profits prior to a damages trial. The application arose in circumstances where Dunnes had been previously found to have engaged in misleading comparative advertising and infringed Aldi's trademarks.
DisputesThe Companies (Accounting) Bill was signed by the President on 17 May 2017, and is accordingly the Companies (Accounting) Act 2017 (the Accounting Act). Almost all of its provisions came into force pursuant to a commencement order signed by the Minister for Jobs, Enterprise and Innovation (DJEI) on 2 June 2017 and published on 6 June 2017 (the First Commencement Order).
Companies ActOn the Domestic Front: Companies (Accounting) Act 2017 will come into operation on 9 June 2017; Central Bank publishes AIFMD Q&As and UCITS Q&As. On the EU Front: ESMA publishes principles on supervisory approach to relocations from the UK; European Council adopts the Money Market Fund Regulation
Asset Management & Investment FundsOn the Domestic Front: Supreme Court reaches decision in Law Society of Ireland v The Motor Insurers' Bureau of Ireland; Central Bank publishes notice on reporting under Solvency II. On the EU Front: Insurance Europe publishes Annual Report and review of indirect taxation on insurance contracts; European Commission adopt Solvency II Implementing Regulation on the calculation of technical provision
Financial RegulationOn the Domestic Front: Exemption from stamp duty announced on the transfers of shares in Irish companies admitted to the Enterprise Securities Market of the Irish Stock Exchange; Financial Services and Pensions Ombudsman Bill 2017 published. On the EU Front: EBA consults on draft Guidelines on security measures for operational and security risks of payment services under the PSD II; Corrigendum to
Financial RegulationOn the Domestic Front: Central Bank publishes Markets Update, Issue 3 2017. On the EU Front: ESMA publishes final report on Product Governance Guidelines under the MiFID II; ESMA publishes opinions and updated Q&As in relation to MIFID II; European Commission publishes a proposal for a regulation amending the EMIR
Financial RegulationOn the Domestic Front: Initial public offering of shares in AIB announced by the Minister for Finance. On the EU Front: EBA publishes opinion on "own funds" in the context of the CRR and CRD review proposal; ECB publishes guidance on Fit and Proper Assessments and on Leveraged Transaction.
FinanceIn Leahy v Doyle & anor [2016] IEHC 177, the High Court issued orders of restriction in respect of directors of two companies (Gingersnap and Scappa), under Section 150 of the Companies Act 1990 (now Section 819 of the Companies Act 2014).
DisputesSignificant reforms to Ireland’s outdated gambling laws have long been promised. Most notably, in July 2013 the Government published the draft scheme of the Gambling Control Bill (the Bill).
Betting, Gaming & LicensingSince the publication of our Client Alert dated 16 May 2017, the Companies Registration Office has published revised information regarding: (1) the timelines for the launch of the central beneficial ownership register for companies and industrial and provident societies(Central Register); and (2) the time frame for companies and I&Ps to make relevant beneficial ownership filings on the Central Reg
Corporate Governance & Compliance
