May 2021

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Under new Regulations commenced on 19 April 2021, (re)insurers authorised by the Central Bank of Ireland (CBI) are now required to prepare pre-emptive recovery plans by 31 March 2022.

May 2021

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The Irish Tax Appeals Commission and Irish Revenue Commissioners recently published their 2020 Annual Reports.

May 2021

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On 30 March 2021, the Department of the Environment, Climate and Communications published a draft of the Good Practice Principles for Community Benefit Funds (the GPP) under the first Renewable Electricity Support Scheme (RESS 1) for public consultation.

May 2021

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The European Union's Fifth Anti-Money Laundering Directive (5AMLD) requires VASPs to comply with anti-money laundering and counter financing of terrorism (AML/CFT) requirements.

May 2021

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In a judgment delivered on 25 January 2021, Raheenleagh Power DAC, which jointly operates a wind farm in Wicklow with the ESB, has been determined by the High Court to be a "public authority" for the purposes of the AIE Directive.

May 2021

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The introduction of gender pay gap legislation in Ireland was well underway up until the COVID-19 pandemic struck in 2020. The Gender Pay Gap Information Bill (the Bill) is now back on the agenda. Cabinet approval has been given to amend the Bill and to introduce a strengthened bill.

May 2021

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Domestically, the CBI launched a consultation paper on prospectus fees and service standards and issued its latest markets updates; At European level, the EBA launched a public consultation on regulatory technical standards on disclosure of investment policy by investment firms.

May 2021

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Domestically, the CBI published guidance for Electronic Money Institutions, Payment Institutions and Account Information Service Providers in relation to Fitness and Probity requirements; At European level, the ECB published its targeted review of internal models, a report on its consultation on a digital euro.

May 2021

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Domestically, the CBI published guidance on performance fees of UCITS and certain types of retail investor AIFs and updated its Q&A on AIFMD; At European level, ESMA updated its UCITS and AIFMD Q&As for its performance fee guidelines.

May 2021

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Domestically, virtual asset service providers must now comply with anti-money laundering and countering the financing of terrorism obligations; At European level, the ESAs published their first joint risk assessment report of 2021 and their report on the application of their guidelines on complaints-handling for the insurance, securities and banking sectors.