On 25 May 2018, the European Commission (Commission) concluded that the prolongation of an Irish scheme for the orderly winding-up of credit unions is in compliance with EU state aid rules, and in particular with the Commission's 2013 Banking Communication.
EU, Competition & ProcurementOn 19 April 2018, the Court of Justice (COJ) issued a preliminary ruling concerning the interpretation of Article 102(c) of the Treaty on the Functioning of the European Union (TFEU).
EU, Competition & ProcurementThe Irish Government signed the Data Protection Act into law on 24 May 2018.
TechnologyAn overview on the corporate governance regime in Ireland and an outlook for the year ahead.
Corporate Governance & Compliance
An overview of the fintech landscape in Ireland
Capital Markets - DebtThe issue of age discrimination is front and centre in employers' minds, not least because of a number of high profile cases recently reported in the media.
In March 2018 we reported that Fianna Fáil (the main opposition party to the Government) had introduced the Gambling Control Bill 2018 as a Private Members' Bill. That Bill was debated in the Irish Parliament on 9 May.
Betting, Gaming & LicensingGender pay gap (GPG) reporting continues to be a focal point for UK employers following the requirement for employers with more than 250 employees to publish details of their median pay and bonus gaps before last month's deadline. Of the 10,400 companies that reported their data, 78% identified a gap in favour of men.
EmploymentOn the domestic front, the CBI introduced a new RIAIF application process for the submission for Risk Management Process documents. European developments included the EC's adoption of a Delegated Regulation on STS securitisations and asset backed commercial papers, requirements for assets received as part of reverse repurchase agreements and credit quality assessment methodologies under....
Financial RegulationIt was a relatively busy month for cross sectoral issues. In particular, the Financial Services Ombudsman (FSO) has extended the time period for bringing complaints. The government also released a draft of the 2018 Money Laundering Bill. Meanwhile, the European Parliament adopted the Fifth Money Laundering Directive. Institutions published guidance on Accepted Market Practice & consent...
Financial RegulationIt was a quiet month on the domestic front. Key CBI personnel put culture squarely on the enforcement agenda. European developments included the ESMA proposing a simplified prospectus and a European Parliament report calling for international agreements to govern the EU's regulatory equivalence regime.
Financial RegulationIrish developments this month focused on the Solvency II Directive, with the CBI issuing guidance on Special Purpose Vehicles (SPVs) and publishing its findings on regulatory reporting under the Directive. On the European front, the European Commission published a draft delegated regulation amending securitisation calculations, while the European Insurance and Occupational Pensions...
Financial Regulation
