If a transaction by a company amounts to an "unlawful distribution", and the company subsequently goes into liquidation, will an action for recovery of the benefits of that distribution, brought against the directors who authorised the transaction, be statute-barred if it is commenced by the liquidator of the company more than 6 years after the distribution was made?
On a domestic level, the Data Protection Bill 2018 was published which incorporates Ireland's national implementing measures required under the GDPR. The Central Bank published its Q&A in relation to the Minimum Competency Code 2017 and Minimum Competency Regulations 2017.
Financial RegulationFrom a domestic perspective, the Central Bank published a table of reporting requirements for MiFID investment firms. On a European level, ESMA has issued updates to a number of its Q&As, on topics including EMIR, the Benchmarks Regulation and MiFID II.
Financial RegulationOn the domestic front, the Cost of Insurance Working Group published its fourth update on progress, while the Department of Finance consulted on the National Claims Information Database.
Financial RegulationIt has been a relatively quiet month on the domestic front, a research paper on the impact of repossession risk on mortgage default was published by the Central Bank. From a European perspective, the ECB published consolidated banking data for end-September 2017.
FinanceIn Ireland the Central Bank announced its intention to broaden the scope of what a Loan Originating Qualifying Investor AIF (LO-QIAIF) may invest in to include "investment in debt/credit instruments".In Europe ESMA published an updated version of its Q&As on Benchmarks Regulation with two new Q&As concerning commodity benchmark & what types of investment funds are considered to be using an index
Asset Management & Investment FundsA new private members bill, the Prohibition of Bogus Self-Employment Bill 2018 (the Bill), put forward by Solidarity – People Before Profit, was published on 12 March 2018.
Employment
Last week, the European Commission published a 2018 Fintech Action Plan
Client TechWith Valentine's Day upon us and love in the air this week, I thought I would pivot somewhat and delve into another sub-sector of the tech world - the online dating industry.
TechnologyOn 21 February 2018 members of Fianna Fáil (the main opposition party to the Government) introduced the Gambling Control Bill 2018 as a Private Members' Bill.
Betting, Gaming & LicensingThe European Union (Disclosure of non-financial and diversity information by certain large undertakings and groups) Regulations 2017 (the Non-Financial Disclosure Regulations, or the Regulations) were signed on 30 July 2017 by the Minister for Jobs, Enterprise and Innovation, and will come into operation on 21 August 2017.
Corporate & M&AThe Beast from the East meets Storm Emma. It might sound like the premise for a charming fairy tale but the extreme weather will undoubtedly have affected the progress of construction and engineering projects across the country—irrespective of their size and complexity.
Construction
