Feb 2024

publication

The European Commission issued its FAQ Guidance on the ‘No Russia’ clause that has been in effect since 19 December 2023.

Feb 2024

Article

Ireland's Screening of Third Country Transactions Act (the Act) was signed into law by the President of Ireland on 31 October 2023. The Act requires commencement by Ministerial Order which is expected to occur during Q2, 2024.

Feb 2024

article

In an important decision for both firms and individuals subject to regulation by the Central Bank of Ireland, the Irish Financial Services Appeals Tribunal (IFSAT) has found that the Central Bank did not apply fair procedures during the decision-making process for a pre-approval controlled function (PCF) role as part of its ‘gatekeeper role’ under the fitness and probity regime.

Feb 2024

article

The Central Bank of Ireland (Central Bank) has published an information note to provide additional information regarding the recent introduction of a materiality threshold to the pre-approval controlled function (PCF) role of branch manager of a branch established outside the State (PCF-16).

Feb 2024

article

On 12 February, having considered the Digital Services Bill 2023, the President signed the Bill and it has accordingly become law.

Feb 2024

article

We recently noted the significant political milestone that the proposed Corporate Sustainability Due Diligence Directive (the Diligence Directive) achieved on 14 December 2023.

Feb 2024

Article

EU Retail Investment Strategy, UK OFR and TMPR extension, macroprudential policies for NBFI, leveraged AIFs, ESMA TRV, sustainable finance impact investing, ESMA warning for people posting investment recommendation on social media.

Feb 2024

Article

Deadlines, CBI markets update, fund authorisation process, materiality threshold for PCF-16.

Feb 2024

Article

Domestically, Fitness and Probity ‘Certification Regulations’ published. At European level, EBA issues guidance to crypto-asset service providers to effectively manage their exposure to ML/TF risks and publishes list of consultations due to commence in 2024.

Feb 2024

Article

At European level, ESMA publishes updated opinion on pre-trade transparency waivers for equity and non-equity instruments, coordinates supervisory activities on MiFID II pre-trade controls with NCAs and remarkable resilience of financial markets in a higher-for-longer interest-rate environment.