Domestically, the CBI has published issue 9 of its Markets Update for 2020; At European level, ESMA has agreed position limits under MiFID II for a number of categories and published a report into the Market Abuse Regulation.
Financial RegulationDomestically, the Irish Government has announced a €2bn credit guarantee scheme to help businesses respond to the impact of COVID-19; At European level the EBA has published its work programme for 2021 and phased out its guidelines on legislative and non-legislative loan repayments moratoria.
Financial RegulationOn 24 September 2020, the Commission adopted its new Digital Finance Package. The aim of this package is to ensure that the EU legal framework will be fit for purpose into the future, particularly in light of the pace at which the digital revolution is reshaping financial services.
EU, Competition & ProcurementIn September 2015, proceedings were initiated by the Meath County Council under section 57 of the Waste Management Act 1996, as amended, seeking orders requiring the Respondents to discontinue the unauthorised holding, recovery and disposal of waste on their land.
Environmental & PlanningIreland has published the "General Scheme" of the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020.
BrexitOn 2 October 2020, the EU and UK concluded their ninth round of negotiations on the future UK-EU relationship.The negotiations had been held between 29 September and 2 October.
Brexit
On 2 October 2020, the European Commission announced that it is considering extending the COVID-19 Temporary Framework on State Aid until 30 June 2021.
COVID-19When the history of Brexit is written, much will be made about the letters which have travelled between Brussels and London.
BrexitSupreme Court outlines a Proposed Approach for Discovery in Procurement Cases - Word Perfect Translation Services Limited v Minister for Public Expenditure and Reform, judgment of the Supreme Court of 25 September 2020
EU, Competition & Procurement
The Central Bank has stated that it is prioritising its work on distressed debt and is intrusively engaging with lenders to ensure that regulatory expectations are being met. Deputy Governor Ed Sibley made the announcement at a virtual event hosted by the University of Limerick on 28 September 2020.
COVID-19UCITS/ AIFMD and digital operational resilience, ESG, UK CCPs, closet index funds, ESMA TRV report and interest rates reform.
Asset Management & Investment FundsCBI deadlines, Investment Limited Partnerships (Amendment) Bill 2020, update of the ICAV Act 2015, beneficial ownership of ILPs and CCFs, liquidity stress testing, SFTR reporting, CBI markets update, Irish Funds financial reporting brief 2020.
Asset Management & Investment Funds
