In August 2018, the UK Financial Conduct Authority (FCA) announced the creation of the Global Financial Innovation Network (GFIN), in collaboration with 11 other international financial regulators.
Client TechThe APSS is an arrangement approved by the Revenue Commissioners which operates in tandem with an employee trust. It is a way of paying bonuses by awarding shares to employees in the employer’s ultimate parent company free of income tax.
Pensions & IncentivesRevenue Approved SAYE Schemes are a tax efficient way of granting share options to employees.
Pensions & IncentivesIn Defender Ltd v HSBC Institutional Trust Services (Ireland) Ltd [2018] IEHC 587, High Court, Twomey J, 15 October 2018 the Court had to consider whether a witness statement loses its privilege when it is served on the opposing party or when it is adopted by a witness in open court.
DisputesFollowing the EDPB’s Opinion last month, the Irish Data Protection Commission (DPC) has published a non-exhaustive list of processing operations requiring a Data Protection Impact Assessment (DPIA) to be carried out.
TechnologyThe publication on Wednesday 14 November of the 585-page draft UK Withdrawal Agreement means that there is now a potential deal on the table.
BrexitOn 7 November, the Criminal Justice (Money Laundering and Terrorist Offences) (Amendment) Bill 2018 was passed by both Houses of the Oireachtas. The Bill implements the Fourth Money Laundering Directive.
Financial RegulationSpeaking at the Dublin Chamber of Commerce on 9 November last, Governor of the Central Bank of Ireland (CBI), Philip R. Lane provided a brief outline of the CBI's new strategic plan. The Central Bank Strategic Plan 2019-2021 was launched on the same day and is available on the CBI's website.
FinanceOn 13 November 2018, reports emerged from Brussels and London that a 'deal' had been done between the EU and the UK on Brexit. The exact contents of the deal have not yet been published and A&L Goodbody will publish updates as the contents are revealed. Much turns on what is in the 500 or so page document and but there are some elements which are worth analysing.
BrexitLegal Representation in Disciplinary Hearings – the Exception rather than the Rule?
EmploymentDomestically, amendments to the Criminal Justice (Money Laundering & Terrorist Financing (Amendment) Bill 2018 proposed by the Seanad were considered and accepted by the Dáil. As the Bill has been formally passed by both houses it will be formally drafted by the Bills office before being presented to the President for signing. On the European front, it was a relatively busy month for cross......
Financial RegulationDomestically it has been a relatively quiet month. The CBI issued a warning on an unauthorised investment firm and also issued the 5th edition of the Investment Firms Q&As. On the European front, ESMA published its 2019 Work Programme and also updated its opinion on ancillary activity calculations. ESMA also updated its Q&As on MiFID II and MiFIR commodity derivative topics.
Financial Regulation