In this video Gareth Walls, Partner and Head of ALG's Belfast Employment & Incentives team discusses the importance of ESG for businesses and what employers and employees need to be aware of.
ESG & SustainabilityThe REPowerEU Plan (the Plan) was issued by the European Commission on 18 May 2022. The Plan responds to the disruption in the global energy market caused by Russia's invasion of Ukraine, by seeking to rapidly reduce the EU's dependence on Russian fossil fuels and speeding up the oncoming green transition.
Environmental & PlanningOn 3 June 2022, the long-awaited gender pay gap reporting regulations were published.
EmploymentThe new Climate Change Act will commit Northern Ireland to a target of 80% renewable electricity by 2030 and carbon net zero by 2050.
Climate ActionIn domestic news, the CBI issued a notice of intention on UCITS side-pocket arrangements. ESMA's public statement on the implications of Russia’s invasion of Ukraine on investment fund portfolios is also relevant in this context.
Asset Management & Investment FundsIn domestic news, the Insurance (Miscellaneous Provisions) Bill 2022 was scheduled for report and final stages in the Dáil. The CBI published updated Q&A on the Insurance Regulations 2022 and the Department of Finance published its feedback statement on its Public Consultation on the Development of a National Resolution Framework for (re)Insurers.
Financial RegulationIn domestic news, on 16 May 2022, the CBI published the addendum to the Consumer Protection Code 2012 (CPC). The addendum extends the scope of the CPC to include providers of hire purchase, consumer hire and/or buy-now-pay-later agreements (the regulated entities).
Financial RegulationIn domestic news, on 16 May 2022, the Central Bank of Ireland (CBI) updated its website on the requirements and guidance for MiFID investment firms (the firms).
Asset Management & Investment FundsIn domestic news, on 17 May 2022, the Central Bank of Ireland (CBI) met with the CEOs of the five main retail banks in Ireland to discuss the large scale migration of customer bank accounts, and the actions necessary to ensure this activity happens in line with customer needs and expectations.
FinanceIn 2020, the Administration of Civil Justice Review Group's Report made recommendations to Government underlining the need for significant changes to the administration of justice in Ireland through the operation of the civil Courts.
DisputesOff-payroll working (IR35) rules have continued to be a source of confusion and frustration for employers and contractors alike since the government introduced new rules on 6 April 2021 designed to crack down on disguised employment through personal service companies (PSC).
BelfastLast month in Canon v Commission (Case T-609/19), the EU's General Court upheld the European Commission's €28m fine on Canon in 2019 for gun-jumping in relation to its two-step acquisition of Toshiba Medical Systems Corporation (TMSC).
Corporate & M&A
