In this briefing, the key features of Ireland's new Simplified Merger Notification Procedure announced by the Competition and Consumer Protection Commission (CCPC) on 7 May 2020 are explained.
EU, Competition & ProcurementThe High Court has recently ruled that the agreement between the liquidator of a company and the parent of that company, which contemplated the transfer of all of the assets of the company to the parent gave rise to a trust arrangement on the facts of the case.
Disputes
As the COVID-19 pandemic continues to impact businesses and individuals the Central Bank has provided some welcome guidance on processing PCF vacancies at this time.
COVID-19
Following the announcement of the Irish Government's 'roadmap' for lifting lockdown restrictions, the Return to Work Safely Protocol ("the Protocol") has been published in the past few days by the Department of Business, Enterprise and Innovation. The Protocol contains practical guidance for employers on reopening their workplaces at a time when the spread of COVID-19 has been successfully
COVID-19
Since the first case of coronavirus in Ireland in February 2020, there has been an unparalleled impact on the country and the Irish economy.
COVID-19Domestically, the Department of Finance has announced common measures agreed by most insurers for business customers in response to COVID-19; At European level, EIOPA has urged insurers and intermediaries to continue to take actions to mitigate the impact of COVID-19 on consumers, and has issued a number of publications.
Financial RegulationDomestically, the CBI has issued a letter on measures related to investment funds in light of ongoing market uncertainty due to COVID-19; At European level,
FinanceDomestically, the CBI has launched a COVID-19 information hub, which includes a new blog by the Governor; At European level, the ESAs have launched a consultation on ESG disclosure rules. The European Commission has extended the State Aid Temporary Framework adopted in March.
FinanceDomestically, theCBI has issued communications to regulated financial services providers introducing prudential flexibility measures; At European level, ESMA has issued a public statement to promote coordinated action by NCAs regarding benchmarks external audit requirements; issued a no action letter on the new ESG disclosure requirements under the Benchmarks Regulation.
FinanceDomestically, the CBI has issued communications to regulated financial services providers introducing prudential flexibility measures. It has also launched a COVID-19 Information Hub; At European level, the European Commission, the ECB, and EBA have adopted a range of measures in response to COVID-19.
FinanceAn advocate for the Court of Justice of the European Union (CJEU) has released an opinion calling into question the extension of planning permission granted for the proposed Shannon Liquified Natural Gas (LNG) Terminal project (Permission). This was in response to a reference sent by the Irish High Court.
Environmental & PlanningThe European Securities and Markets Authority (ESMA) has published guidelines on performance fees in UCITS and certain types of AIFs which aim to harmonise EU supervisory practices.
Asset Management & Investment Funds
