Q&A of the month. Are Irish Funds and other Irish Regulated Financial Service Providers (Designated Persons) obliged to notify the CBI where a beneficial owner of the Designated Person is convicted of certain offences?
Asset Management & Investment Funds
The UK government recently announced that it is extending the emergency provision for tenants having difficulty paying rent on commercial leases as a result of the COVID-19 pandemic.
COVID-19 BelfastThe EU's Investment Firms Directive (IFD) and Investment Firms Regulation (IFR) will put in place a new prudential framework for MiFID-authorised investment firms (Investment Firms). The new framework will aim to ensure the safe functioning of Investment Firms and to ensure that they properly manage customer and market risk.
Financial RegulationThe Commission for Regulation of Utilities (CRU) published its ECP-2 Decision on 10 June 2020
Energy & Natural Resources
This market update looks at the recent impact of COVID-19 on the Data centres sector and also gives a brief explanation of the concept of ‘flexible demand’...
COVID-19The European Commission (Commission) adopted a White Paper on 17 June 2020 dealing with the distortive effects caused by foreign subsidies in the Single Market (White Paper). The White Paper is designed to assist the Commission in preparing for EU legislative proposals to deal with such effects.
EU, Competition & Procurement
The European Data Protection Board (EDPB) has adopted a statement on restrictions on data subject rights in connection with the state of emergency in Member States. The EDPB emphasises that, despite the international crisis, the GDPR remains applicable and allows an efficient response to the pandemic, while still protecting fundamental rights and freedoms.
Technology
On 29 May 2020, the European Banking Authority (EBA) published its final report on the Guidelines on Loan Origination and Monitoring (the Guidelines). The Guidelines specify the internal governance arrangements for institutions in relation to the granting and monitoring of credit facilities.
COVID-19
The Supreme Court decision in Bresco Electrical Services Ltd (In Liquidation -v- Michael J Lonsdale Electrical Ltd handed down on 17 June 2020 is both timely and significant given the “new normal” that we are all now operating within.
COVID-19 BelfastOn 15 June 2020, almost four years after the UK voted to leave the EU, there was a video conference between the Presidents of the European Council, the European Commission, the European Parliament and the Prime Minister of the UK.
Brexit
The impact of the COVID-19 pandemic has had an unimaginable impact on day to day life. Our local government has implemented unprecedented measures as all industries adapt to events that change on a daily basis.
COVID-19 BelfastOn 16 June 2020, the European Commission launched a consultation on a new EU strategy to improve and accelerate patients’ access to safe and affordable medicines and to support innovation in the EU pharmaceutical industry.
EU, Competition & Procurement
