The Central Bank of Ireland (Central Bank) has published an information note to provide additional information regarding the recent introduction of a materiality threshold to the pre-approval controlled function (PCF) role of branch manager of a branch established outside the State (PCF-16).
Financial RegulationOn 12 February, having considered the Digital Services Bill 2023, the President signed the Bill and it has accordingly become law.
TechnologyWe recently noted the significant political milestone that the proposed Corporate Sustainability Due Diligence Directive (the Diligence Directive) achieved on 14 December 2023.
Corporate & M&AEU Retail Investment Strategy, UK OFR and TMPR extension, macroprudential policies for NBFI, leveraged AIFs, ESMA TRV, sustainable finance impact investing, ESMA warning for people posting investment recommendation on social media.
Asset Management & Investment FundsDeadlines, CBI markets update, fund authorisation process, materiality threshold for PCF-16.
Asset Management & Investment FundsDomestically, Fitness and Probity ‘Certification Regulations’ published. At European level, EBA issues guidance to crypto-asset service providers to effectively manage their exposure to ML/TF risks and publishes list of consultations due to commence in 2024.
Financial Regulation AdvisoryAt European level, ESMA publishes updated opinion on pre-trade transparency waivers for equity and non-equity instruments, coordinates supervisory activities on MiFID II pre-trade controls with NCAs and remarkable resilience of financial markets in a higher-for-longer interest-rate environment.
Asset Management & Investment FundsDomestically, CBI Financial Statements for Insurance Compensation Fund published. At European level, EIOPA analyses internal models for non-life underwriting.
FinanceDomestically, ELTIF 2.0. 24-hour authorisation will apply to “Qualifying Investor” ELTIFs in Ireland. At European level, ESMA reports on Alternative Investment Funds 2023.
Asset Management & Investment FundsDomestically, client asset requirements become applicable to credit institutions. At European level, ECB to conduct cyber-resilience stress testing this year.
FinanceThis review examines the merger control practice of the CCPC under Part 3 of the 2002 Act during 2023 and is based on information available at the date of publication.
EU, Competition & ProcurementWe have written extensively on the Corporate Sustainability Reporting Directive (EU) 2022/2464 (the Reporting Directive), most recently here.
Corporate & M&A
