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Legal Updates & Insights

  • article

    Financial Services Regulation and Compliance - Banking August 2019

    Domestic News – This month, the Central Bank of Ireland (CBI) published a financial stability note on Brexit and its Regulatory Service Standards Performance Report for the first half of 2019, as well as withdrawing its regulatory notice. 'Valuation Processes in the Banking Crisis - Lessons Learned - Guiding the Future' regulatory notice.

    Finance
  • article

    Financial Services Regulation and Compliance - Funds August 2019

    Domestic News - This month the Central Bank issued a reminder to funds in relation to Brexit preparedness and commenced phase two of its assessment of the implementation of CP86. European News - This month ESMA published guidelines on liquidity stress testing in UCITS and AIFS and the legislative package on cross-border distribution of funds came into force

    Asset Management & Investment Funds
  • article

    Vesatger 2.0 - The New European Competition Commissioner

    On 10 September 2019, the new European Commission President-Designate, Ursula von der Leyen, was widely expected to nominate the new - and 13th - European Commissioner for Competition Policy.

    Brexit
  • article

    ICO clarifies time limit for responding to subject access requests

    The UK Information Commissioner’s Office (ICO) has amended its guidance on the time limit for responding to a subject access request (SAR).

    GDPR
  • article

    Terminating a banking relationship where money laundering is suspected

    In N v Royal Bank of Scotland, the English High Court held that a bank was not in breach of contract for closing a customer's account without notice in circumstances where there was a suspicion of money laundering. The bank had acted in accordance with express contractual provisions which allowed it to terminate the banking relationship without notice "in exceptional circumstances".

    Finance
  • article

    Discovery of loan purchase price ordered on the basis of a plea of unjust enrichment

    In Promontoria (Aran) Ltd v Sheehy [2019] IEHC 613, the High Court ordered discovery of documents revealing the price paid by the plaintiff to Ulster Bank for loans allegedly made to the defendant. The court found that in circumstances where the plaintiff had invoked the equitable doctrines of restitution and unjust enrichment, it was not possible to find at an interlocutory stage that the....

    Disputes
  • article

    Asset Management & Investment Funds Q&A: Aug 2019

    Are Irish Funds required to appoint audit committees?

    Asset Management & Investment Funds
  • article

    Asset Management & Investment Funds: EU & International Developments: Aug 2019

    ESMA liquidity stress testing guidance, EU equivalence, cross-border fund distribution, AML/CTF

    Asset Management & Investment Funds
  • article

    Asset Management & Investment Funds: Irish Practice Developments: Aug 2019

    Brexit update deadline, liquidity management expectations, CP86 review, UCITS and AIFM Regulations, Central Register of Beneficial Ownership GDPR breaches, National AML/CTF Risk Assessment, Market Abuse, Prospectus Regulation

    Asset Management & Investment Funds
  • article

    Harmonisation of cross-border distribution of UCITS and AIFs

    A European Directive and Regulation on the cross-border distribution of funds (CBDF) came into force on 1 August 2019.

    Asset Management & Investment Funds
  • Article

    An introduction to the Global Aircraft Trading System 〈GATS〉

    In spring 2019, AWG announced that it had contracted with technology solutions company Fexco to build, support and operate the the Global Aircraft Trading System (GATS) platform.

    Aviation & Transport Finance
  • article

    Irish Package Travel Regulations 2019

    The EU Directive on Package Travel and Linked Travel Arrangements (Directive 2015/2302) was transposed into Irish law by the European Union (Package Travel and Linked Travel Arrangements) Regulations 2019 (S.I. 80/2019) (the Irish Package Travel Regulations)