The Companies Act 2014 (the Act) was signed into law in December 2014 and the bulk of the act commenced (that is, to enter into force) on 1 June 2015.
Companies ActThe US government has asked the Irish High Court to be joined as an amicus curiae (friend of the court) in the case between Schrems and Facebook, concerning the validity of Standard Contractual Clauses, as the case has potentially significant implications to US authorities and companies.
Privacy & Data SecurityThe recently published Government Legislative programme notes that the introduction of paternity leave is a priority for the newly formed Government with the publication of the Paternity Leave and Paternity Benefits Bill due before the summer recess.
EmploymentA man who took a Snapchat video of himself snorting cocaine while wearing a T-shirt from a Dublin restaurant of which he was an employee has lost his claim for unfair dismissal before the Employment Appeal Tribunal (EAT) ⃰.
Pensions & IncentivesThe Irish Stock Exchange (ISE) will commence a new process for the application of International Security Identification Numbers (ISIN) for Irish domiciled debt securities and investment funds intending to list on the ISE’s markets from 27 June 2016.
Asset Management & Investment FundsThe Central Bank of Ireland (Central Bank) published a new Markets Update (Issue 3 2016 dated 2 June)
Asset Management & Investment FundsFinally, the latest consultation on CP86 has issued. It addresses managerial functions, operational issues and procedural matters. While there is a lot of detail in the consultation, we would highlight the following proposals which are likely to be of particular interest.
Asset Management & Investment FundsThe recent Technology & Construction Court judgment in Grove Developments Ltd –v- Balfour Beatty Regional Construction Ltd has the potential to have far-reaching consequences for the construction industry. Although the judgment is that of an English court, the High Court in Northern Ireland frequently cites judgments of the Technology & Construction Court with approval.
Projects & InfrastructureOn the Domestic Front: Central Bank of Ireland publishes research on consumer perceptions of complaints handling in regulated firms; Minster for Finance publishes two reports prepared by the Credit Union Advisory Committee. On the European Front: EU Commission publish document on crowdfunding as an alternative source of finance
Financial RegulationOn the Domestic Front: Central Bank of Ireland Governor comments on risks facing investment industry. On the EU Front: EU Council confirms delayed application of MiFID II and MiFIR; EU Commission adopts two further delegated acts supplementing MiFID II
Financial RegulationOn the Domestic Front: Central Bank consultation on Fund Management Company Effectiveness; Feedback on Central Bank CP99; Consultation on Amendments to the AIF Rulebook. On the EU Front: MMF Regulation; Benchmark Regulation
FinanceOn the Domestic Front: Central Bank of Ireland publishes list of ‘Frequently Asked Questions’ on Bank and Investment Firm Resolution Fund and Single Resolution Fund; Opposition Bill on Excessive Variable Mortgage rates passed first legislative stage. On the EU Front: European Banking Authority publishes Discussion Paper on uses of consumer data by financial institutions
Financial Regulation
