Financial Services Regulation and Compliance - Investment Firms Nov 2019

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Domestically, the CBI stated that the financing of a sustainable economy and climate risk is an important topic that is high on their funds and asset management sector agenda; At European level there have been many developments , including the publication of three sets of technical advice to the European Commission by ESMA regarding TC-CCPs under EMIR 2.2.

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Financial Services Regulation and Compliance - Banking Nov 2019

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Domestically, the CBI has set out what it is doing in the area of climate change; At European level the European Commission hosted a conference on the implementation in the European Union of new international rules for the banking sector known as the "finalization" of Basel III reforms.

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Agreement to have dispute resolved by expert determination disapplied contractual arbitration provisions

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In K & J Townmore Construction ltd. v. Kildare and Wicklow Education and Training Board [2019] IEHC 666 the High Court refused to refer a dispute to arbitration on the basis that an agreement between the parties to have the disputes resolved by way of expert determination had the effect of disapplying not only the conciliation provisions of the original contract but also the arbitration provisions

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Supreme Court holds that debt must be particularised in summary proceedings

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In Bank of Ireland Mortgage Bank v. O’Malley [2019] IESC 84, the Supreme Court has indicated that, if a lender wishes to use the High Court summary summons procedure for debt recovery, each of the component elements of an overall debt being claimed (i.e. principal, applicable interest rates, bank charges etc.) need to be specifically explained.

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Knowledge Annual Report 2019

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The report provides an overview of key developments in various areas of law as well as featuring significant legal changes anticipated for 2020.

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New Regulations permitting Central Bank to restrict individuals’ data protection rights

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The Minister of Finance has passed new Regulations, the Data Protection Act 2018 (section 60(6)) (Central Bank of Ireland) Regulations 2019, permitting data subjects’ rights under Articles 12-22 and Article 34, and controllers’ obligations under Article 5 GDPR, to be restricted to the extent necessary and proportionate to allow the Central Bank of Ireland (CBI) to carry out certain functions.

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