Domestically, 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Insurance & ReinsuranceDomestically, the CBI have announced a new Crowdfunding regulatory regime, and, have separately withdrawn their 2017 policy statement regarding EBA remuneration guidelines; At a European level, the EBA launched a consultation on draft guidelines on remuneration and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
FinanceSeveral western countries have threatened punitive economic and trade sanctions against Russia in response to its build up of military troops on the Ukrainian border.
DisputesThe Commercial Court has issued its third judgment in the FBD Business Interruption Proceedings
DisputesAnticipated regulations to establish a central database of information on safe-deposit boxes and payment accounts have been published.
FinanceThe Commercial Court has recently delivered judgment in Irish Airline Pilots Pension DAC v Mercer [2022] IEHC 22 which considered the approach that a court will take in interpreting an agreed category of discovery in circumstances where there is a dispute regarding the extent of the relevant category.
DisputesThe Regulation of Providers of Building Works Bill (the Bill) continues its progress through the Irish legislature and has now reached the Committee stage (the third stage, before the Dáil).
ConstructionAs employers will be aware, with effect from 24 January 2022 the government changed its advice in relation to the requirement for home working to allow a phased return to physical workplaces.
EmploymentOn Sunday, 30 January 2022, Ireland's Enterprise Minister and Deputy Prime Minister, Leo Varadkar TD, announced the unveiling of the Competition (Amendment) Bill 2022.
EU, Competition & Procurement
