Financial Services Regulation and Compliance - Cross Sectoral July 2019

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Domestic News – There have been some developments at domestic level, including a speech by Acting Governor of the CBI, Sharon Donnery on issues facing the Irish economy. The CBI also published several Submission Templates and pieces of Guidance on their website under the Prospectus Regulation. There have been many developments at a European level, including the publication of Regulation (EU) 2019.

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The Modern Slavery Act 2015 (MSA) is gaining momentum…

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With the immediacy (and uncertainty) of Brexit, the MSA's is not top of the list for many organisations. However, July 2019 saw a significant development in this legislation with the UK Government's commitment to toughen section 54 of the MSA, specifically in regard to enforcement following the launch of a new consultation (the Consultation)...

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Local Government Rates and Other Matters Act 2019

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There is currently some commentary in the marketplace regarding the recently enacted Local Government Rates and Other Matters Act 2019 which is giving rise to concerns that landlords will be required to assume liability for their tenants’ rates. This arises from a particular section of the Act which provides that, on the sale of property which is subject to rates, the vendor must first discharge..

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Largest ever GDPR fines announced by ICO – don’t fall into the 1%!

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In recent weeks you will have seen the high-profile press coverage of the Information Commissioner’s Office (ICO) announcement of its first potential fines under the GDPR enforcement regime. British Airways (BA) and Marriott International Inc. have been notified by the ICO that it intends to fine them £183.39m and £99.2m respectively. The scale of these fines has put down a clear marker for data

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