May 2022
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As highlighted in our previous publication, crowdfunding has gathered pace in recent years as an attractive alternative to traditional forms of finance typically offered by banks.
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2021 net exchequer receipts came to €67.5bn, an increase of 20% (€11.3bn) from 2020. This increase in receipts was primarily driven by increases in income tax and corporation tax receipts.
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The Central Bank of Ireland (CBI) issued a Notice of Intention on UCITS Side-Pocket Arrangements.
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On 27 April, Irish Revenue published an update to its tax and duty manual covering the taxation of crypto-asset transactions. This was the first update to this manual in two years.
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In domestic news, the CBI updated the list of PCF roles under the CBI's Fitness & Probity Regime and issued an update on the collection of beneficial owner PPS numbers. At European level, ESMA published its fourth annual statistical report on the cost and performance of EU retail investment products and carried out a supervisory engagement which focused on funds liquidity stress testing
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In domestic news, the European Union (Bank Recovery and Resolution) Resolution Fund Levy Regulations 2022 and the pre-legislative scrutiny report of the Central Bank (Individual Accountability Framework) Bill 2022 were published. At European level, the EC adopted the SFDR RTS, published its European Financial Stability and Integration Review 2022, launched the EU Digital Finance Platform
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In domestic news, the CBI published "Dear CEO" letter addressed to MiFID authorised firms offering structured retail products. At European level, ESMA published MAR guidelines, its views on the MiFID II suitability consultation and guidelines on certain aspects of the MiFID II appropriateness and execution-only requirements
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In domestic news, the CBI has published two "Dear CEO" letters on the withdrawal of retail banks from the Irish market, Derville Rowland delivered remarks at the Institute of Banking/Compliance Institute seminar and Sharon Donnery delivered the opening statement at the Central Bank Conference. At European level, the EBA published its views on the macroprudential framework and proposed amendments
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In domestic news, the CBI has responded to Pearse Doherty, T.D. on Business Interruption Insurance. In European news, EIOPA published monthly technical information on the RFR, its opinion on insurer disclosure of individual stress test results, its fourth report on costs and past performance of insurance and pension products,
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Article
Did you know that your business could well have a "vertical agreement"? Indeed, your business could be entirely dependent on so-called "vertical agreements".
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