Financial Services Regulation and Compliance - Banking September 2022

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Domestically, on 5 September 2022, the Department of Finance published the latest SME credit demand survey. At European level, on 30 September 2022, the European Banking Authority (EBA) published its first mandatory Basel III Monitoring Report that assesses the impact that Basel III full implementation will have on EU banks in 2028.

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Ireland transposes the EU Preventive Restructuring Directive: Modifications to Irish law will be of interest to both Irish and international practitioners

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On 27 July 2022, the European Union (Preventive Restructuring) Regulations 2022 (S.I. 380/2022) (the Regulations) amended the Irish Companies Act 2014 (the Act) by transposing certain requirements of Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 (the Directive) not already provided for in Irish law. 

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EU’s Council adopts Digital Services Regulation

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On 4 October 2022, the European Union's Economic and Financial Affairs Council adopted formally the Digital Services Act (DSA). The DSA is known formally as the "Regulation on a Single Market for Digital Services and amending Directive 2000/31/EC" and is designed to create a safe digital space for both citizens and businesses.

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