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The European Commission’s push for EU Member States to establish savings and investment accounts (SIAs), combined with the Irish Government’s plans to introduce a domestic SIA framework in 2027, marks a significant development for the retail investment market. Firms that act early will be best placed to benefit and potentially expand their retail client base.
Our latest client publication explores the European Commission’s SIA blueprint and Ireland’s developing approach, with a focus on what this means for investment firms and credit institutions and other regulated firms operating in the investment management sector.
SIAs are central to the EU’s Savings and Investments Union agenda. To drive retail participation in EU capital markets, SIAs should be designed to make investing more accessible by offering a simple, tax-efficient product through which individuals can invest in shares, bonds and funds.
While SIA frameworks are already well established in several Member States, Ireland is starting from a relatively clean slate. This presents both opportunities and uncertainties for firms as key design features, operational requirements and tax treatment remain under development. Ireland is likely to closely follow the Commission’s Recommendation which sets out a clear blueprint for SIAs, including expectations around simplicity, investment choices, costs and fees, portability and streamlined tax processes.
Against this backdrop, firms should start considering how their current operating models align with the anticipated SIA framework. Firms that can deliver seamless digital journeys, fair and transparent pricing structures and scalable operating models will be well placed to compete in what is expected to be an increasingly dynamic retail investment market.
Our publication provides analysis of:
Read the full publication to understand what your organisation needs to start thinking about in order to capitalise on the opportunities ahead.
ALG's Financial Regulation Advisory Team can support firms at every stage of their SIA journey, including analyses of existing authorisations and permissions, product structuring, marketing, suitability and appropriateness, cost and charges disclosures and the design of client onboarding processes so they are well prepared when accounts may be offered from 2027.
For information, please contact Eoin O’Connor, Partner, Patrick Brandt, Partner, Eimear O’Brien, Partner, Louise Hogan, Partner, Sarah Lee, Senior Practice Development Lawyer or your usual ALG contact.
Date published: 21 May 2026
