Mar 2019

article

On the domestic front, Director General of the CBI, Derville Rowland gave a speech in UCD on the lack gender diversity at senior management in the financial services industry. On the European front, ESMA published an opinion containing a revised set of draft regulatory and implementing technical standards (RTS/ITS) under the Securitisation Regulation. ESMA and EU securities regulators....

Mar 2019

article

On the domestic front, it was a relatively busy month. The Government published the Brexit Omnibus Bill, the Deputy Governor of CBI presented a speech at the CBI Insurance Conference and the CBI also published the latest edition of the Intermediary Times. On the European front, the European Insurance and Occupational Pensions Authority (EIOPA) has issued Recommendations for the Insurance Sector...

Mar 2019

article

There are no updates on the domestic side. However, from a European perspective, it has been a relatively busy month with ESMA publishing updates to its Q&As on the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR) market structure and transparency topics. ESMA has also clarified the reporting and handling of derivatives data in the case of a no-deal Brexit.

Mar 2019

article

On the domestic front, the CBI has issued a Notice of Intention in relation to the location requirement for directors and designated persons of Irish Fund Management Companies; From a European perspective, the European Securities and Markets Authority (ESMA) published data on exposures of Alternative Investment Funds (AIFs) to Commercial Real Estate markets in the EU as of 31st December 2017.

Mar 2019

article

On the domestic front, the CBI published the penultimate update on the Tracker Mortgage Examination; Derville Rowland, Director General, Financial Conduct of the CBI gave a speech on behaviour and culture in the Irish banking sector; On the European front, the ECB published a paper discussing markets, banks and shadow banks...

Mar 2019

article

The Central Bank of Ireland (Central Bank) issued a Markets Update on Thursday 7 March 2019 which clarified that, in the event of a no-deal Brexit.

Mar 2019

article

Speedread: The principles outlined by the Court of Appeal last week for assessing damages in defamation cases suggest that the recovery of 'windfall' awards may be a thing of the past. On 28 February 2019, the Court of Appeal gave judgment in Kinsella v Kenmare Resources plc and Carvill, setting aside what had been the largest ever defamation award in the State. Background In the High Court,...

Mar 2019

article

Speed Read 'Officially induced error' relates to circumstances where a person relies on incorrect advice from an official authority as to the law, resulting in the commission of a criminal offence by that person.  In recognition of the potential injustice that would be caused by a guilty verdict, the Supreme Court has endorsed officially induced error as an exception to the rule that ignorance...

Mar 2019

article

There are now three main avenues: UK leaves on 29 March 2019 without a deal UK asks, and the EU Member States agree unanimously, to extend the Brexit negotiating period beyond 29 March 2019 UK leaves on 29 March 2019 with a deal No Deal Brexit The first – the "crash out" or "no deal Brexit" – is currently a c.10% option.  If this were to happen, it would happen because of a row or an accident...

Mar 2019

publication

By any measure, 2018 was a historic year for data protection law with the coming into effect of the GDPR on 25 May 2018. Ireland plays an important role in the regulation and enforcement of data protection law and decisions of the Irish courts have had a disproportionate impact on European data protection jurisprudence.