Sep 2019

article

The Central Bank published the Anti-Money Laundering and Countering the Financing of Terrorism Guidelines for the Financial Sector (the Guidelines) on 6 September 2019. The Guidelines replace the previous Guidelines which had been in place since 2012. 

Sep 2019

article

Domestic News – This month, the CBI published its annual pre-Budget letter to the Minister for Finance, as well as the Quarterly Financial Accounts for Q1 2019.

Sep 2019

article

Domestic News – This month, Central Bank of Ireland (the CBI) appointed a new Chief Information Officer and Director of Insurance Supervision.

Sep 2019

article

Domestic News – This month, the Central Bank published its Investment Fund Statistics for Q2 2019.

Sep 2019

article

Domestic News – This month, the Central Bank of Ireland (CBI) published a financial stability note on Brexit and its Regulatory Service Standards Performance Report for the first half of 2019, as well as withdrawing its regulatory notice. 'Valuation Processes in the Banking Crisis - Lessons Learned - Guiding the Future' regulatory notice.

Sep 2019

article

Domestic News - This month the Central Bank issued a reminder to funds in relation to Brexit preparedness and commenced phase two of its assessment of the implementation of CP86. European News - This month ESMA published guidelines on liquidity stress testing in UCITS and AIFS and the legislative package on cross-border distribution of funds came into force

Sep 2019

article

On 10 September 2019, the new European Commission President-Designate, Ursula von der Leyen, was widely expected to nominate the new - and 13th - European Commissioner for Competition Policy.

Sep 2019

article

The UK Information Commissioner’s Office (ICO) has amended its guidance on the time limit for responding to a subject access request (SAR).

Sep 2019

article

In N v Royal Bank of Scotland, the English High Court held that a bank was not in breach of contract for closing a customer's account without notice in circumstances where there was a suspicion of money laundering. The bank had acted in accordance with express contractual provisions which allowed it to terminate the banking relationship without notice "in exceptional circumstances".

Sep 2019

article

In Promontoria (Aran) Ltd v Sheehy [2019] IEHC 613, the High Court ordered discovery of documents revealing the price paid by the plaintiff to Ulster Bank for loans allegedly made to the defendant. The court found that in circumstances where the plaintiff had invoked the equitable doctrines of restitution and unjust enrichment, it was not possible to find at an interlocutory stage that the....