Domestically, on 12 September 2022, the CBI published the pre-Budget letter sent to the Minister for Finance by Governor Gabriel Makhlouf on 22 July 2022. At European level, on 16 September 2022, the ECB announced that it will collaborate with five companies to develop potential user interfaces for the digital euro.
Financial RegulationDomestically, on 8 September 2022, the CBI published a statistical release regarding special purpose entities. At European level, on 27 September 2022, the European Securities and Markets Authority (ESMA) published a statement reminding firms to consider inflation and inflation risk when applying relevant MiFID II requirements in the interest of investor protection.
Asset Management & Investment FundsDomestically, on 5 September 2022, the Department of Finance published the latest SME credit demand survey. At European level, on 30 September 2022, the European Banking Authority (EBA) published its first mandatory Basel III Monitoring Report that assesses the impact that Basel III full implementation will have on EU banks in 2028.
FinanceOn 27 July 2022, the European Union (Preventive Restructuring) Regulations 2022 (S.I. 380/2022) (the Regulations) amended the Irish Companies Act 2014 (the Act) by transposing certain requirements of Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 (the Directive) not already provided for in Irish law.
Restructuring & InsolvencyFollowing the publication of the General Scheme of the Representative Actions for the Protection of the Collective Interest of Consumers Bill 2022 (the Bill), two sessions of pre-legislative scrutiny (PLS) have taken place.
DisputesThe Irish Minister for Justice, Helen McEntee, has announced that Ireland is likely to introduce legislation removing the current restriction on third party funding of international arbitration in Ireland.
DisputesThere is certainly nothing “mini” about the anticipated changes to employment law announced in recent weeks.
BelfastOn 28 September 2022, the European Commission published two draft pieces of legislation, which if ultimately adopted, will significantly reshape the consumer products landscape.
DisputesIt's been a year like no other in respect of employment law changes in Ireland and anyone can be forgiven for losing track of where we have gotten to as we head towards the end of 2022.
EmploymentOn 4 October 2022, the European Union's Economic and Financial Affairs Council adopted formally the Digital Services Act (DSA). The DSA is known formally as the "Regulation on a Single Market for Digital Services and amending Directive 2000/31/EC" and is designed to create a safe digital space for both citizens and businesses.
Commercial & TechnologyThe Irish Government has published the long awaited Screening of Third Country Transactions Bill 2022 which will introduce a screening regime for foreign direct investments in Ireland by parties established in third countries.
Corporate & M&AThe Technology and Construction Court (TCC) in England and Wales has recently given judgment in Essential Living (Greenwich) Limited v Elements (Europe) Limited in relation the extent to which an adjudicator's decision is binding on the parties for the purpose of an ongoing final account process.
Construction
