Domestic News – on the domestic front, there was a large focus on effective supervision this month within the Central Bank of Ireland (CBI), as it featured in two keynote speeches. European News – there have been several consultations on technical standards at European level this month.
Financial RegulationIn Times Travel (UK) Ltd v Pakistan International Airlines Corporation [2019] EWCA Civ 828 the Court of Appeal found that a lawful act, done in good faith did not constitute illegitimate pressure giving rise to a right of avoidance of a contract on the basis of economic duress. Background The defendant was the only airline flying directly between the UK and Pakistan. The plaintiff's bus...
Disputes31 October is the new date fixed in UK and EU law for the UK's departure from the bloc. At this stage, the terms remain unsettled. The Withdrawal Agreement, agreed in draft with the EU at the end of 2018, has now been rejected three times by the UK Parliament. EU leaders insist that, by 31 October, the UK must choose whether to ratify the exit treaty, opt for a no-deal Brexit or cancel its depa...
BrexitPeter Walker, Partner, and Sinéad O'Connor, Partner in the Finance Department provide an Irish legal guide to securitisations. They review areas of interest such as asset sales, special rules, insolvency laws, security issues, regulatory issues, taxation and Choice of Law – receivable contracts and receivables purchase agreements.
Capital Markets - DebtS.I. No. 230 of 2019, Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) Regulations 2019 (the Central Bank UCITS Regulations) are effective from 27 May 2019 with some transitional provisions.
Asset Management & Investment FundsHas there been a change recently to the list of jurisdictions from which investment companies can re-domicile to Ireland?
Asset Management & Investment FundsIrish Practice. EMIR Refit deadline, Central Register of Beneficial Ownership, Central Bank Speeches, FATCA and DAC2-CRS.
Asset Management & Investment FundsESG amendments to the UCITS Directive and AIFMD, Shareholders' Rights Directive, ESMA speeches and newsletter, Brexit and TPR, EU Legislative Proposals, Foreign Direct Investment screening, AML/ CFT.
Asset Management & Investment FundsWhen it comes to what the post-Brexit landscape will look like for employers with British employees on Irish soil (and vice versa), the question of immigration status remains high on the agenda.
BrexitIn Nolan v Sunday Newspapers Ltd [2019] IECA 141, Peart J. found for the court that the High Court (O'Connor J sitting without a jury) had been correct in holding that two publications by the defendant were defamatory, in that they had given the impression that the plaintiff was 'a principal organiser of orgies in the State with a lurking undertone of criminality'.
DisputesSRD II contains transparency provisions which are applicable specifically to AIFMs, UCITS ManCos and SMICs.
Asset Management & Investment FundsIreland has unique mandatory reporting laws. These laws require individuals/entities to report to the authorities certain information concerning third parties' involvement in certain crimes, including 'white collar' crimes, unless they have a 'reasonable excuse' for not doing so.
Disputes
