While there was certainly no shortage of developments on the employment law front in 2022, there is no doubt that 2023 is due to bring further significant reform on the employment law front. In this briefing we take a look at the main upcoming employment law developments.
EmploymentDomestically, the Consumer Rights Act 2022 commencement order was published and the Central Bank IAF Bill 2022 is progressing through Dáil Éireann. At European level, the Council adopted its position on an anti-money laundering regulation and new directive (AMLD6).
Financial RegulationDomestically, the CBI issued a letter to fund management companies following its thematic review of governance, management and effectiveness. At European level, ESMA issued updated AIFMD Q&As with a new Q&A concerning SPACs.
Asset Management & Investment FundsDomestically, the CBI has published a letter detailing its research on insurance engagement and switching. At European level, EIOPA published a discussion paper on the prudential treatment of sustainability risks and is seeking feedback from stakeholders.
Financial RegulationDomestically, the European Union (Recovery and Resolution of Central Counterparties) Regulations 2022 [S.I. No. 547 of 2022] was published. At European level, ESMA published guidelines and technical documentation on reporting under EMIR REFIT and published a practical guide on national rules on notifications of major holdings under the Transparency Directive.
Asset Management & Investment FundsDomestically, the European Union (Access to Anti-Money Laundering Information by Tax Authorities) (Amendment) Regulations 2022 was signed into law by the Minster for Finance. At European level, the EBA published a roadmap on sustainable finance.
FinanceThe first draft delegated regulation supplementing the Digital Services Act (DSA) was published by the European Commission yesterday.
TechnologyOn 19 December 2022, the Commissioner for Internal Market of the EU published an update on the date when very large online platforms (VLOPs) and very large online search engines (VLOSEs) will be required to comply with the provisions of the Digital Services Act (DSA).
TechnologyThe European Commission is currently consulting on an updated draft of its Notice on the Definition of the Relevant Market for the Purposes of Union Competition Law (Market Definition Notice).
EU, Competition & ProcurementIn a recent judgment, the English High Court made a number of findings which, going forward, may provide significant assistance to victims of crypto-fraud in recuperating their stolen crypto-assets. Equally, the judgment will have considerable implications for the custodians of crypto-assets such as the operators of crypto-wallets.
Financial RegulationOn 12 December 2022, the three European Supervisory Authorities (EBA, EIOPA and ESMA, together the ESAs) published a joint advice (the Advice) (see links below) in response to the European Commission’s (EC) October 2021 call for advice on the review of the securitisation prudential framework.
Capital Markets - DebtIn January 2021, the Irish government published a strategy for national remote working, called "Making Remote Work". The strategy outlined a commitment to introduce legislation which will provide a framework around which employees can request remote working.
Employment
