IFSC.ie Legal Features

Hamilton Review Group Make Recommendations to Combat Economic Crime

21/01/2021 - In announcing a new cross-government plan to tackle economic crime and corruption, the Minister for Justice, Helen McEntee TD

Ireland seems perfectly positioned to cultivate a thriving FinTech sector

21/01/2021 - One of the lasting impacts of the pandemic has been the accelerated acceptance of the role of technology in more and more areas of our lives.

Re-Engineered ILP Ready for Launch - A new structuring option for private funds in 2021

21/01/2021 - Ireland's Investment Limited Partnership (ILP) has undergone a significant overhaul to enhance its features in line with limited partnership fund regimes internationally. The Investment Limited Partnership (Amendment) Bill (Bill), a reform bill to the Investment Limited Partnerships Act 1994, passed through the Dáil this week and can be expected to be enacted in early January 2021.

Road Ahead for Financial Services Post-Brexit is Still Unclear

11/01/2021 - While we were assured for months that it was oven-ready, the UK-EU trade deal was finally agreed on Christmas eve.

Central Bank of Ireland's 2020 Dear CEO Letter on the Fitness and Probity Regime

26/11/2020 - On 17 November 2020, the Central Bank of Ireland (“CBI”) published on its website and sent to the management of regulated financial services providers (“firms”) a Dear CEO letter (the “2020 Dear CEO Letter”) highlighting its key findings from a thematic inspection in relation to firms' compliance with requirements of the Fitness and Probity Regime ("F&P Regime").

Competition law, merger control and State aid in Ireland in the time of Brexit

26/11/2020 - While Brexit makes the UK a third country for the purposes of EU law, Ireland's proximity (geographically and economically) to the UK makes the application of competition law to cross-border trade that more relevant and complex.

Petition to Appoint an Examiner to New Look Dismissed by the High Court

12/11/2020 - In a judgment delivered on 14 October 2020, the High Court, in refusing to appoint an examiner to New Look Retailers Ireland Limited (New Look Ireland) ruled that it was "entirely premature to consider the appointment of an examiner". New Look Ireland trades under the brand name "New Look" and operates across 27 stores in Ireland.

Cash, card or competition? - The European Payments Initiative for retail payments

29/10/2020 - * A group of 16 major European banks has announced the implementation phase of a new unified payment scheme and solution called the European Payments Initiative (EPI).

Co-operation and Early Engagement with the Central Bank are Key in Enforcement Actions

21/09/2020 - On 28 July 2020, the Central Bank of Ireland (Central Bank) published details of a settlement agreement reached between it and Bank of Ireland (BOI) for admitted breaches of five provisions of the European Communities (Markets in Financial Instruments) Regulations 2007 (MiFID).

Implications of Brexit for Corporate Governance and Compliance

21/09/2020 - On 31 December 2020, the transition period between the UK and the EU will come to an end and EU law will cease to apply to the UK.

EU approval for Irish €2bn COVID-19 loan guarantee programme

25/08/2020 - On 14 August 2020, the European Commission approved, under the EU State aid rules, a €2bn loan guarantee programme by Ireland to support businesses affected by COVID-19.

Winds of change in Personal Injury Litigation in Ireland

25/08/2020 - The Court of Appeal Judgment as delivered by Mr Justice Noonan of the 11th August 2020 in the case of Emma McKeown v Alan Crosby and Mary Vocella [2020] IECA 242 is significant in the context Personal Injury Litigation in this jurisdiction.

PD3 – Practical Insights

19/08/2020 - Regulation (EU) 2017/1129 (the “New Prospectus Regulation” or “PD3”) has been in effect since 21 July 2019 and the purpose of this advisory is to provide some practical insights on the application of PD3 to date to issuers of debt securities and to share our experience of some of the issues which have arisen and how such issues may be resolved.

COVID-19: Company Law Changes

18/08/2020 - On 1 August 2020, the Companies (Miscellaneous Provisions) (COVID-19) Act 2020 (Act) was signed into law. This legislation, due to commence soon, will address certain specific company law issues arising because of the ongoing and unprecedented Coronavirus (COVID-19) crisis.

EDPB Reviewing Draft Guidelines on Data Protection and Connected Vehicles

18/08/2020 - The European Data Protection Board (EDPB) is finalising its guidelines on data protection law as it applies to connected vehicles. The first draft of the Guidelines 1/2020 on processing personal data in the context of connected vehicles and mobility related applications was adopted on 28 January 2020 and will soon be finalised following a public consultation.

After the Storm: Workplace stress - How do I Handle It?

30/06/2020 - Employee stress, which often stems either from issues around workload or bullying/harassment, is particularly relevant for employers, in the unprecedented circumstances in which we are all operating as a result of Covid-19.

COVID-19: Financial Crime Risk – Regulatory Expectations

30/06/2020 - Financial services providers have been very active in maintaining essential services, managing their own duties as employers and managing operational and compliance risk in the COVID-19 environment.

New Rules of Engagement for Pension Trustees? – Implications of the Second Shareholders' Rights Directive

30/06/2020 - The European Union (Shareholders' Rights) Regulations 2020 (the Regulations) transposed Directive (EU) 2017/828 (the Second Shareholders' Rights Directive) (SRD II) into Irish law.

Insurance Reform – A Top Political Priority

24/06/2020 - Fuelled by cycle of rising and falling insurance premiums, the high level of personal injury awards, and a series of high profile successes against fraudulent claimants, in recent times it seems that the topic of insurance has never been far from the front pages of the news.

Catch me if you can – allegations of fraud as a defence in enforcement proceedings

09/06/2020 - Lenders and loan purchasers may find themselves faced with an allegation by a defendant in repossession and/or enforcement proceedings that they are not entitled to the reliefs sought, in circumstances where the defendant’s signature on the underlying loan and/or related security documentation was the subject of a fraud on the part of the lender and/or a co-defendant to the proceedings.

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