On 24 January 2019 the Financial Services and Pensions Ombudsman (FSPO) published 228 legally binding decisions from 2018. The FSPO indicated that the aim in publishing the decisions was to enhance transparency and understanding of the powers and services of the FSPO. The powers of the FSPO are extensive – it can award compensation of up to €500,000 and it can also direct a regulated...
DisputesWith 59 days to go until B-Day, it is still not clear what will happen. Among the several plates which are spinning are: The UK's House of Commons is still voting on what the UK should do next. There is expected to be another "meaningful vote" over the next few weeks on whether to accept the draft withdrawal agreement but in the interim, parliament is considering a series of procedural votes...
BrexitThe 2018 UK Corporate Governance Code (the New Code) replaces the version of the Code issued by the UK's Financial reporting Council (FRC) in April 2016. The New Code applies to financial years beginning on or after 1 January 2019. Consequently, companies that are subject to the New Code must take the necessary steps to ensure that their policies and procedures are updated this year, in order...
Corporate & M&ADeadlines, UK TPR, MMFs, CBI AML/CTF Guidelines, the General Scheme of the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2019, Brexit, AEOI reporting.
Asset Management & Investment FundsEU “no-deal” Contingency Action Plan, EU report on the operation of the AIFMD, new Investment Firms regulatory framework, ESMA report on retail investment products, AML/ CTF.
Asset Management & Investment FundsWill the Brexit deadline of 29 March impact any of the Central Bank filing deadlines?
Asset Management & Investment FundsWith the introduction of GDPR and the Data Protection Act 2018, individuals are more alive to their data and privacy rights. An increase in awareness and the exercise of those rights has resulted in data related disputes becoming more common between businesses and individuals.
Litigation & Dispute Resolution BelfastAfter enduring a rocky road through the legislative process, the Employment (Miscellaneous Provisions) Act 2018 was signed into law by the President on Christmas Day 2018 and is scheduled to commence in the first week of March 2019.
EmploymentThe impact of Brexit will be keenly felt in Ireland regarding the provision of services generally (including financial services).
BrexitThe General Scheme (the Scheme) of the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2019 (the Bill) has been published by the Department of Justice. The full text of the Scheme is available here. The Scheme is quite high level and sets out the heads of the Bill which will give effect to many of the provisions of the Fifth EU Money Laundering Directive...
Financial RegulationData privacy is a priority for all employers but especially those with operations in more than one country. It impacts all aspects of the employment relationship and, with the increase in data transfers between businesses and across borders, employers often need to comply with multiple laws to minimize the risk of significant fines and liabilities.
EmploymentFollowing the decision of the House of Commons on 15 January 2019 to reject the draft Brexit Withdrawal Agreement between the EU and the UK, what happens now?
Brexit
