The European Banking Authority is consulting on Draft Guidelines on internal governance for investment firms categorised as Class 2 firms under the Investment Firms Directive.
Financial RegulationAn optimistic start to 2021 for the Irish gambling industry, with recent media reports indicating that the long awaited Gambling Regulator will be established by the summer of 2021.
Betting, Gaming & LicensingIreland's Department of Enterprise, Trade and Employment – the Irish Government's business ministry – has commenced a public consultation to review certain aspects of competition law in Ireland.
EU, Competition & ProcurementOn 12 October 2020, the OECD/G20 Inclusive Framework on BEPS released the Pillar One and Pillar Two Blueprints, together with a public consultation document seeking stakeholder input on the Blueprints.
TaxWhat could be the final public consultation meeting on the BEPS 2.0 blueprints will be held this week on 14 and 15 January 2021.
TaxThe Criminal Justice (Theft and Fraud Offences) (Amendment) Bill is working its way through the Oireachtas at the moment
Disputes
The "interim period" of the Companies (Miscellaneous Provisions) (Covid-19) Act 2020 (the 2020 Act) has been extended to 9 June 2021. The Act makes temporary amendments to the Companies Act 2014 and the Industrial and Provident Societies Act 1893 to address issues arising as a result of COVID-19.
Corporate & M&A
On 15 December 2020, the Minister for Health announced Ireland’s National COVID-19 Vaccination Strategy. The first vaccine was approved for use on 21 December 2020, with the first dose administered in Ireland on 29 December 2020.
COVID-19The Public Health (Alcohol) Act 2018 (Sale and Supply of Alcohol Products) Regulations 2020 (the Regulations) came into effect on 11 January 2020.
Betting, Gaming & LicensingDomestically, the CBI published an interim report of its differential pricing review, its quarterly insurance letter for Q4 2020, and the CBI webpage on the Temporary Run-off Regime is now live; At European level, EIOPA published a report on sanctions under the Insurance Distribution Directive.
Financial RegulationDomestically, the CBI launched a consultation on performance of fee guidance and has issued some clarification in respect of the outcome of its thematic review of the implementation of its framework for governance, management and oversight in fund management companies; At European level, ESMA further updated its reporting instructions under the Regulation on Money Market Funds.
Financial RegulationDomestically, CBI Deputy Governor Ed Sibley delivered an address to members of the Oireachtas in which he outlined several key areas of the focus for the CBI; At European level, the European Council has endorsed targeted amendments to a range of EU legislation, including the Prospectus Regulation and MiFID II, designed to help the economic recovery form COVID-19.
Financial Regulation
