ESMA issued a consultation on guidelines for performance fees in UCITS on 16 July 2019. The date for responses to the consultation is 31 October 2019...
Asset Management & Investment FundsCross-border fund distribution improvements from August 2021 The following Capital Markets Union proposals on the cross-border distribution of funds (CBDF) were published in the Official Journal of the EU. They will come into force on 1 August 2019. Directive (EU) 2019/1160 (the Directive) amending the UCITS Directive and the AIFMD with regard to the cross-border distribution of collective i...
Asset Management & Investment FundsUpdated Central Bank Guidance on the use of financial indices by UCITS The Central Bank of Ireland (Central Bank) issued updated guidance on the use of financial indices by UCITS on 23 July 2019. The certification process initially introduced by the Central Bank in October 2018 guidance was welcome. That guidance has been further updated to clarify the circumstances where an index certificatio...
Asset Management & Investment FundsWhat do UCITS/ ManCos need to do following the Central Bank's letter on its thematic review of closet indexing?
Asset Management & Investment FundsThis week the Court of Appeal weighed in on the crucial question of precisely where an employee can legally seek to challenge the redundancy of their role. The
EmploymentA new prospectus regime applies across the EU since 21 July 2019. The Prospectus Regulation (the Regulation) was drafted by the European Commission with the intention of making it simpler and more cost-effective for businesses to raise funds publicly and to encourage smaller firms in particular to list on equity and debt markets.
EU, Competition & ProcurementStrategic Housing Development case-law update – failure to upload bat survey leads to permission being set aside This decision is of particular relevance to developers involved in Strategic Housing Development (SHD) applications and highlights the need to ensure full compliance with the procedural and legal requirements of the associated legislation. In Southwood Park Residents Association v An Bo
Environmental & PlanningThe Government has introduced legislation to regulate the short term letting sector. It passed the Residential Tenancies (Amendment) Act 2019 and supplementary regulations entitled the Planning and Development Act 2000 (Exempted Development) (No. 2) Regulations 2019, which came into effect on 1 July 2019. Purpose of the legislative reform The Government's view was that the unregulated short-t...
Environmental & PlanningIn 2014 Ireland took the lead in whistle-blower protection with the introduction of its Protected Disclosures Act 2014 (the Act). The Act not only consolidated Ireland's previous piecemeal legislative approach it actively promoted a cultural shift towards encouraging employee whistle-blowers by offering significant protections.
EmploymentLast week's High Court decision in Roderick Jones v Minister for Justice and Equality (the Judgment) has shined a spotlight on the residency requirements for gaining Irish citizenship by naturalisation. However, the Judgment has led to widespread concern from individuals awaiting decisions on citizenship applications, prospective applicants, and their employers.
EmploymentOn 4 July 2019, Mr Justice William Davis approved the UK Serious Fraud Office (SFO) entering into a three year Deferred Prosecution Agreement (DPA) with Serco Geografix Limited (SGL). This is the first DPA which has come before the UK courts whereby a parent company has guaranteed undertakings given by a dormant subsidiary.
DisputesOn Monday 17 June, the Government published its Climate Action Plan 2019, which sets out its proposed policy measures for addressing the threat of climate change in Ireland.
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