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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Asset Management & Investment Funds: EU & International Developments: July 2019

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Cross-border fund distribution improvements from August 2021 The following Capital Markets Union proposals on the cross-border distribution of funds (CBDF) were published in the Official Journal of the EU. They will come into force on 1 August 2019. Directive (EU) 2019/1160  (the Directive) amending the UCITS Directive and the AIFMD with regard to the cross-border distribution of collective i...

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Asset Management & Investment Funds: Irish Practice Developments: July 2019

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Updated Central Bank Guidance on the use of financial indices by UCITS The Central Bank of Ireland (Central Bank) issued updated guidance on the use of financial indices by UCITS on 23 July 2019. The certification process initially introduced by the Central Bank in October 2018 guidance was welcome. That guidance has been further updated to clarify the circumstances where an index certificatio...

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