At the end of last year, the EU launched public consultations on two significant proposals; the Business in Europe: Framework for Income Taxation and a Transfer Pricing Directive.
TaxOn 17 January 2023 the Commission for Regulation of Utilities published its decision paper revising its existing policy on Installed Capacity Caps for electricity generators in the Irish market.
Energy & Natural ResourcesThe Central Bank of Ireland has confirmed its intended approach for ELTIF authorisations in Ireland, with the 24-hour authorisation process for “Qualifying Investor” AIFs being made available for “Qualifying Investor” ELTIFs.
Asset Management & Investment FundsA consultation on Offshore Renewable Installation (OREI) Policy Options for Northern Ireland was drafted to enable stakeholders to provide input into offshore renewable energy policy development, we look at what should be analysed and considered as progress is made with regards policy development.
BelfastMiCA will apply from 30 December 2024, with the exception of Titles III and IV of the Regulation (which address the frameworks for asset-referenced tokens and e-money tokens) which will apply from 30 June 2024.
Financial Regulation AdvisoryIf the parties to a merger or takeover have turnovers over the thresholds specified in Irish legislation then the deals must be notified to the Competition and Consumer Protection Commission. Read more here
EU, Competition & ProcurementFollowing on from its evaluation of credit institutions’ management of IT and cyber risks in 2023, the European Central Bank announced, on 3 January 2024, that it will be conducting a cyber resilience stress test on 109 directly supervised credit institutions in 2024.
DORARegulation (EU) 2022/2554 on digital operational resilience for the financial sector (DORA) which will apply from 17 January 2025 is intended to create a harmonised regulatory framework that enhances the digital operational resilience of in-scope EU financial entities in respect of ICT related disruptions and threats.
DORAThere have been a number of recent developments regarding the Fitness and Probity regime, arising out of the implementation of the Individual Accountability Framework (IAF).
Individual Accountability FrameworkOn 15 January, the Commission for Regulation of Utilities released the consultation paper (CRU/2024001) for its Review of Large Energy Users.
Energy & Natural ResourcesIn this briefing we take a look at some of the key changes and developments to expect during 2024. Click for more.
EmploymentDomestically, the CBI publishes ASP feedback statement and guidelines. At European level, the ESAs launch second batch of DORA policy mandates and Council and Parliament agree to create new AMLA authority.
Financial Regulation
