Ireland’s Competition (Amendment) Act 2022 (Amendment Act) will very largely come into operation on 27 September 2023.
Corporate & M&AAlthough TUPE dates back to 1981, businesses still grapple with the transfer of rights and liabilities in the context of a TUPE transfer. The recent decision in Ponticelli highlights unexpected consequences for transferees when dealing with Share Incentive Plans (SIP).
BelfastOn 31 July 2023 the Northern Ireland Executive, together with HM Government and the Scottish Government, issued a call for evidence on introducing Fixed Price Certificates (FPCs) in the UK wide Renewables Obligation (RO) schemes, as a replacement for the existing live-traded scheme (the Call for Evidence).
BelfastDomestically, the Department of Finance has launched a public consultation on the operation of Ireland’s discretions under MiCA. At European level, the EBA has published its report on the functioning of AML/CFT colleges in 2022 and ESMA has updated its ECSPR Q&As.
Financial RegulationAt European level, European Securities and Markets Authority (ESMA) has issued guidelines on MiFID II product governance requirements and Commission Delegated Regulation on RTS for specific liquidity measurement of investment firms is published in the Official Journal.
Asset Management & Investment FundsDomestically, the CBI published a communication on Data Ethics within Insurance. At European level, the Joint Board of Appeal of the ESA dismissed an appeal by Euroins Insurance Group AD against the European Insurance and Occupational Pensions Authority.
FinanceDomestically, the Irish Funds Depositary Working Group has published a guidance paper on depositary oversight principles and ESG investment. At European level, the European Commission adopted the first set of the European Sustainability Reporting Standards.
Asset Management & Investment FundsDomestically, the CBI announced the countercyclical capital buffer rate is to be maintained. At European level, the EBA has launched a consultation on draft regulatory technical standards to identify extraordinary circumstances to derogate from certain requirements in the area of market risk.
FinanceThe Office of Government Procurement has introduced monetary caps on liability in the forms of public works contracts PW-CF1 to PW-CF8s.
ConstructionIn Eternity Sky Investments Ltd v Mrs Xiaomin Zhang [2023] EWHC 1964 (Comm), the English Commercial Court has refused an application to set aside an order for enforcement of an arbitration award on the grounds of public policy.
DisputesThe European Commission published Guidance in March 2021 in which it indicated that it intended in certain circumstances to encourage and accept Article 22 referrals where the referring Member State(s) did not have the power to review the transactions concerned under national rules.
EU, Competition & ProcurementEuropean Sustainability Reporting Standards, EU-US data privacy, MMFs, interconnectedness among EU investment funds, MiFID II guidelines, AML/CFT/FS.
Asset Management & Investment Funds
