On 25 February 2022, the EU adopted a package of sanctions in response to Russia's attack on Ukraine. This second package builds on, and significantly expands, the first package of sanctions adopted on 23 February in response to Russia's recognition of the Donetsk and Luhansk oblasts of Ukraine as independent entities.
Aviation & Transport FinanceMMFs, SFDR, Taxonomy, MiFID, ID, UCITS, AIFMD, ESMA's Sustainable Finance Roadmap, ESMA report on the AIF sector and AIF exposures to CRE, CBDF, ESMA TRV, EU list of high risk third countries
Asset Management & Investment FundsCBI securities markets risk outlook report, SEAR, FATF, Sanctions
Asset Management & Investment FundsGig economy employers should sit up and take note of the recent decision in Smith v Pimlico Plumbers Ltd [2022] EWCA. The Court of Appeal held that where workers succeed in establishing worker...
BelfastThe structural trend towards environmental, social and governance (ESG) focused investing has been underway in Europe for some years now. European ESG funds have multiplied year-on-year inflows over the past five years.
Asset Management & Investment FundsWe look here at recent key developments on the two-pillar solution and the statement published by the OECD/G20 Inclusive Framework last October, which dealt with a number of key aspects of global tax reform as set out in the OECD BEPS 2.0 proposals.
TaxSignificant and wide-ranging new powers of intervention will be given to the Irish merger control authority i.e. the Competition and Consumer Protection Commission (CCPC), under the recently-published Competition (Amendment) Bill 2022 (Bill).
EU, Competition & ProcurementDomestically, the Irish Funds ESG Working Group issued a Q&A on the EU Taxonomy. At a European level, ESAM launched a Common Supervisory Action on the valuation of UCITS and open-ended AIFs and updated its UCITs Q&As on hedged share classes
Asset Management & Investment FundsDomestically, the CBI has published a paper examining the strength of the connectedness of the Irish insurance sector and investment funds. At a European level, EIOPA has published monthly technical information, a report on the application of the Insurance Distribution Directive.
Insurance & ReinsuranceDomestically, the CBI have announced a new Crowdfunding regulatory regime, and, have separately withdrawn their 2017 policy statement regarding EBA remuneration guidelines; At a European level, the EBA launched a consultation on draft guidelines on remuneration and gender pay gap benchmarking exercise for banks and investment firms
Financial RegulationDomestically, the CBI has issued a statement to firms authorised to provide MiFID activities 3 and/or 6 and Ireland has transposed the MiFID II "Quick Fix" Directive; At European level, ESMA has published guidance on appropriateness and execution-only requirements under MiFID II
Asset Management & Investment FundsDomestically, the CBI has published a revised Standard Financial Statements to assist borrowers in financial distress.; At European level the EBA has published it opinion on the scale and impact of de-risking in the EU, as well as guidelines for institutions and resolution
Finance
