IFSC.ie Legal Features

Legislation to improve transparency and accountability in the financial sector.

01/08/2019 - The Department of Finance recently received approval from Cabinet to draft the heads of a Central Bank (Amendment) Bill. Minister for Finance, Paschal Donohoe, has stated his intention to publish the heads of this Bill before the end of 2019.

Reasonable Accommodation – How Far Do Employers Need To Go?

01/08/2019 - Two recent decisions of the Workplace Relations Commission (the WRC) serve as a useful reminder to employers on how best to provide for an employee or candidate for employment who may require accommodation and guidance to employers on what 'reasonable accommodation' really means.

Landmark EU case puts proper tracking of employees’ working hours top of the agenda

27/06/2019 - This decision clarified that all employers must have a suitable system in place to ensure they are recording employees’ daily and weekly working hours.

After GDPR, a new regulation to provide for free movement of non-personal data

21/05/2019 - Regulation (EU) 2018/1807 of the European Parliament and of the Council of 14 November 2018 on a framework for the free flow of non-personal data in the European Union (the Regulation) is the follow up to the General Data Protection Regulation (GDPR) and is another major pillar in the EU's drive to create a "Digital Single Market" (the Digital Single Market). It will come into force in May 2019.

Deputy Data Protection Commissioners discuss GDPR implementation with Oireachtas Committee

30/04/2019 - On 3 April 2019, the Joint Committee on Justice and Equality met to discuss the implementation of the GDPR with Ms Anna Morgan (Deputy Commissioner), Ms Jennifer O’Sullivan (Deputy Commissioner), and Mr Cathal Ryan (Assistant Commissioner).

New Beneficial Ownership Rules – What are the Facts?

11/04/2019 - The European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019 (the "2019 Regulations") were signed on 22 March 2019.

Irish Businesses Face Higher EU Dawn Raid Risk Post-Brexit

26/03/2019 - The European Commission regularly "dawn raids" businesses across the European Union (EU) to try to uncover evidence of anti-competitive deals, abuse of dominance and unlawful State aid.

Oppression Must be Conceded Before Court Will Sanction Independent Valuation of Shares

15/03/2019 - A recent High Court case, Harrington v Harrington & another, [2018] IEHC 751, has provided some guidance to shareholders and companies in relation to litigation under Section 212 of the Companies Act 2014 ("Section 212").

Brexit: Irish subsidiaries of UK firms warned of more dawn raids

26/02/2019 - One of the unforeseen consequences of Brexit is that Irish businesses could be subject to more competition dawn raids by the European Commission as the option of conducting these unannounced inspections in the UK is blocked off by the UK leaving the European Union.

Charities VAT Compensation Scheme – A General Guide

13/02/2019 - While charities in Ireland can qualify for a broad range of tax exemptions, they have no general exemption from VAT.

Irish Government Proposals for Insurance Sector in No-Deal Brexit Scenario

13/02/2019 - On 24 January 2019, the Irish Government published the general scheme of the 'Miscellaneous Provisions (Withdrawal of the United Kingdom from the European Union on 29 March 2019) Bill 2019' (the "Scheme").

GDPR Bites – Google fined €50 million for breach

12/02/2019 - On 21 January 2019, the CNIL, the French data protection authority ordered Google to pay a fine of €50 million based on a violation of the General Data Protection Regulation (GDPR).

Ireland Delays Introduction of New Pension Laws

07/02/2019 - The deadline for transposition of IORP II (Directive 2016/2341) (the "Directive") passed on 13 January 2019, with the Department of Employment Affairs and Social Protection (the "Department") issuing a statement on the matter last week.

Publication of the Companies (Amendment) Bill 2019

07/02/2019 - The Companies (Amendment) Bill 2019 (the Bill) has been published. This is a very short Bill with just two proposed sections to amend section 343 of the Companies Act 2014 (the Act) with respect to the time periods permitted for the filing of annual returns.

Brexit: Extend, Suspend, Mend, Amend or Pretend?

25/01/2019 - Following the decision of the House of Commons on 15 January 2019 to reject the draft Withdrawal Agreement between the EU and the UK, what happens now?

New Corporate Enforcement Authority Proposed: Further Changes to Companies Act 2014 on the Horizon

25/01/2019 - The General Scheme of the Companies (Corporate Enforcement Authority) Bill 2018 (the "Scheme"), which proposes to make a number of amendments and additions to the Companies Act 2014 (the "Act"), was recently published

Reputation Management – A Corporate Survival Guide

08/01/2019 - “It takes twenty years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently” ? Warren Buffett.

The Availability of the Poison Pill Defence in Ireland

08/01/2019 - Since 2009, the number of Irish registered companies listed on US exchanges, principally the NYSE and Nasdaq, has grown steadily and currently numbers 30. These companies are typically holding companies for large international groups, in many cases with global operations.

Artificial Intelligence in the Workplace (Part 5): AI and Inter-generational Working

06/12/2018 - In our Artificial Intelligence (AI) in the Workplace article series we are considering the potential positive impacts that AI could have on the workplace and the possible amendments required to Irish employment law to allow these to happen.

"Face-Off”: Facebook, The Data Breach and The DPC

22/11/2018 - Since 25 May 2018, two of the most hotly debated questions have been:

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