A Snapshot of Irish M&A

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Alan Casey, Resident Partner, New York provides an overview of the key factors that have been driving Ireland's M&A market and outlines future prospects for M&A activity.

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Investment via Insurance Bond not an Insurance Contract

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In Governey v Financial Services Ombudsman [2016] IESC 78, Supreme Court, 21 December 2016 the Supreme Court considered whether an investment, made by Mr Governey in 2006 in "the Kennet Centre Geared Property Fund" (the Fund) was in fact an insurance contract.

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CP86 Update

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The Central Bank of Ireland (Central Bank) issued its guidance for fund management companies on managerial functions, operational issues and procedural matters which includes new rules for fund management companies on an effective supervision requirement and on the retrievability of records.

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Tracker, Financial Services Regulation & Compliance - Funds

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On the Domestic Front: Central Bank publishes Guidance on Fund Management Company Effectiveness, Feedback Statement and Updated Q&As; Central Bank publishes the 22nd edition of the AIFMD Q&A; Central Bank publishes the 15th edition of the UCITS Q&A. On the EU Front: ESMA publishes an updated Q&A on the application of the AIFMD.

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Tracker, Financial Services Regulation & Compliance - Insurance

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On the Domestic Front: Central Bank publishes policy note on the submission of information under Solvency II; CBI publishes "Dear CEO" letter on Solvency Capital Requirement; Insurance Ireland and DIMA propose merger. On the EU Front: Insurance Block Exemption Regulation will expire on 31 March 2017; EIOPA publishes guidelines for supervisor/auditor dialogue.

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