Financial Services Regulation & Compliance - Cross Sectoral July 2018

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It was a relatively busy month for cross sectoral issues, both domestic and European. The Criminal Justice (Corruption Offences) Act 2018 commenced on 30 July 2018, bringing Irish law in line with the UK position by creating the offence of Corporate Corruption. Also on the domestic front the CBI updated the FAQs for the Fitness and Probity regime of Credit Unions and the FAQs...

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Financial Services Regulation & Compliance - Investment Firms July 2018

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Domestically, the CBI published an article analysing the Government's plans for increased investment. European developments included ESMA updates to Q&As, ESMA also published final draft Regulatory Technical Standards (RTS) on risk retention for securitisation transactions and homogeneity standards for underlying exposures in securitisation.

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Financial Services Regulation & Compliance - Insurance July 2018

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Irish insurance developments were centred on legislation this month, with a new Claims Database Bill published and the Insurance (Amendment) Act 2018 enacted. Over in Europe, the European Insurance and Occupational Pensions Authority (EIOPA) launched thematic reviews regarding consumer elements of travel insurance and the use of Big Data by insurers.....

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Financial Services Regulation & Compliance - Funds July 2018

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On the domestic front, the CBI updated the UCITS Q&As and informed Fund Management Companies that they will start being assessed for compliance with CBI requirements. European developments included an update to ESMA UCITS and AIFMD Q&As, while ESMA also published a list of Memoranda of Understanding (MoU) signed by EU authorities.

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Financial Services Regulation & Compliance - Banking July 2018

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On the domestic front, the Central Bank of Ireland (CBI) has criticised elements of consumer-focused culture at Irish retail banks and has also increased banks' capital requirements with effect from 5 July 2019. On the European front, the Commission has withdrawn a proposed regulation on structural reform of credit institutions...

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