June 2022 filing deadline for PCF roles, Beneficial Ownership, Sanctions
Asset Management & Investment FundsHot on the tails of the recent general scheme of the Right to Request Remote Working Bill and against the backdrop of many workplaces implementing new hybrid working models, the Irish government has published details of the Work Life Balance and Miscellaneous Provisions Bill 2022.
EmploymentThis ALG Soundbite provides information on outsourcing, with a particular focus on Central Bank of Ireland's cross-industry guidance on outsourcing and its impact, from a practical perspective, on regulated firms.
Financial RegulationAs highlighted in our recent insight on CBI financial regulation priorities for 2022, the European Banking Authority (EBA), as expected, has now published its final draft Regulatory Technical Standards (New RTS) specifying the requirements for originators, sponsors and original lenders related to risk retention as laid down in Regulation (EU) 2017/2402 (Securitisation Regulation), as amended by...
Capital Markets - DebtIn their recently published joint committee report, the European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) advise a number of policy actions for national competent authorities (NCAs), financial institutions and market participants.
Financial RegulationThe Irish Tax Appeals Commission (TAC) has recently published its 2021 Annual Report providing an insight into the activities and trends in its area of responsibility. The TAC is the first appellate level forum in Ireland for appeals against Irish tax assessments.
Tax Disputes & EnquiriesThe Central Bank of Ireland (CBI) updated the list of Pre-Approval Controlled Functions (PCFs) under the Fitness & Probity Regime. Regulated Financial Service Providers, which include regulated funds (RFSPs) will need to assess the changes and meet the deadline for impacted in–situ roles by 3 June 2022.
Asset Management & Investment FundsDomestically, the Irish Funds has met with the CBI on the implications of Russian sanctions. At European level, ESMA has issued a summary of its supervisory and coordination activity in response to the war in Ukraine and a study analysing the performance of actively managed funds.
Asset Management & Investment FundsDomestically, the CBI has implemented new Insurance Regulations, published the latest issue of its Insurance Quarterly Newsletter and released its latest insurance corporation statistics. At European level, EIOPA has published recommendations on insurance stress test, its February 2022 technical information for Solvency II
Financial RegulationDomestically, the Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021 has passed all stages; At European level, the ESAs have updated their joint supervisory statement on the application of the SFDR and issued a warning to consumers on the risks of crypto-assets.
Financial RegulationDomestically, the CBI and IOSCO have published a report on retail market conduct issues; At European level, ESMA has published its final report on guidelines on certain aspects of the MiFID II remuneration requirements, and its assessment and recommendations on the EC's MiFIR review proposal.
Asset Management & Investment FundsDomestically, the CBI has announced the countercyclical capital buffer rate and published its response to the European Commission targeted consultation on improving the EU's macroprudential framework; At European level, the EBA has published reports on competent authorities' approaches to the AML/CFT supervision of banks, and on developing a framework for sustainable securitisation.
Finance
