Domestically, the CBI has published its financial regulation priorities for 2024 and is adjusting its submission procedures for fund authorisations. At European level, the European Commission will run a targeted consultation on macroprudential policies for NBFIs in 2024.
Asset Management & Investment FundsDomestically, the CBI published its Regulatory and Supervisory Outlook Report for 2024 with a specific MiFID investment firm sectoral focus. At European level, Governor Gabriel Makhlouf spoke at the Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach.
Asset Management & Investment FundsDomestically, the Department of Finance publishes its responses to the public consultation on the future of the bank levy. At European level, Commissioner Mairead McGuinness provides remarks on IBAN discrimination.
FinanceThe eagerly anticipated Code of Practice for Employers and Employees on the Rights to Request Flexible Working and Remote Working was recently published.
EmploymentThe Central Bank of Ireland has published its new ELTIF chapter in its AIF Rulebook to support the establishment of European long-term investment funds in Ireland under the enhanced ELTIF 2.0 regime.
Asset Management & Investment FundsThe Central Bank of Ireland has today published a consultation paper on its review of the Consumer Protection Code 2012, together with two sets of draft Regulations, which will replace the Code once finalised, and two Guidance documents.
Financial RegulationOn 29 February, the Central Bank of Ireland (Central Bank) published its new Regulatory and Supervisory Outlook Report 2024 (Outlook Report), together with a letter from Governor Makhlouf to the Minister for Finance .
Financial RegulationThe European Commission issued its FAQ Guidance on the ‘No Russia’ clause that has been in effect since 19 December 2023.
Aviation & Transport FinanceIreland'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.
Corporate & M&AIn 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.
Financial RegulationThe 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).
Financial RegulationOn 12 February, having considered the Digital Services Bill 2023, the President signed the Bill and it has accordingly become law.
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