On the Domestic Front: Central Bank publishes the latest version of the AIF Rulebook dated March 2017; Central Bank publishes updated UCITS Q&A On the EU Front: Economic and Monetary Affairs Committee of the European Parliament adopts a draft report on the proposal to amend the EuVECA Regulation and EuSEF Regulation; Commission adopts delegated regulation on key information document for PRIIPs
Financial RegulationOn the Domestic Front: The Credit Guarantee Scheme 2017 is published. On the EU Front: European Banking Authority publishes LCR Guidelines; European Banking Authority publishes Regulatory Technical Standards on the disclosure of encumbered and unencumbered assets; European Central Bank publishes guidance to banks on non-performing loans
FinanceKey Points: •Single application allowing creditors to enforce monetary claims against debtors having multiple accounts across EU Member States. •Available pre and post judgment – security required pre judgment. •Banks need to have clear procedures in place to allow speedy implementation of EAPOs and requests for information. •Depending on uptake may result in a significantly increased administrati
DisputesDr Vincent Power of A&L Goodbody wrote an article in The Times debunking ten myths about Brexit
BrexitOn the International Front we look at a European Commission consultation on the operations of the ESAs, the EuVECA Regulation and EuSEF Regulation, the MMF Regulation, a European Commission CMU report on addressing national barriers to capital flows, a European Commission assessment of EU equivalence decisions in financial services policy...
Asset Management & Investment FundsIn Irish practice developments: Some Approaching Deadlines; Updated AIF Rulebook and Q&A; Updated UCITS Q&A; Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Investment Firms) Regulations 2017; Companies (Accounting) Bill 2016; a Central Bank consultation on Funding Levies for Credit Institutions, Investment Firms, Fund Services Providers and EEA insurers.
Asset Management & Investment FundsDoes the Central Bank of Ireland require that externally managed VCC or ICAV funds maintain a designated email address?
Asset Management & Investment FundsIt is not possible to be precise because no Member State has ever left the EU. Article 50 of the Treaty on European Union (TEU) has never been invoked before and there are at least 18 elections forecast across the EU over the next two years but a broad indicative timeline would include the following possible events...
EU, Competition & ProcurementWhat is meant by the UK triggering Article 50?
BrexitArticle 50 is often cited in debates and commentary but not many people have read it.
BrexitOn Wednesday, the UK Prime Minister is scheduled to “trigger” Article 50 of the Treaty on European Union – the TEU - to announce to the 27 other EU Member States that the UK intends to leave the EU.
BrexitVincent Power, Head of EU & Competition at A&L Goodbody was interviewed on Newstalk on 22nd March about the triggering of Article 50 on 29th March. He joined Vincent Wall on the Breakfast Business show and highlighted a combination of legal challenges, elections, an EU tradition of protracted negotiating processes, and even a possible referendum in Ireland as factors which can delay Brexit.
Brexit
