On 15 January, the Commission for Regulation of Utilities released the consultation paper (CRU/2024001) for its Review of Large Energy Users.
Energy & Natural ResourcesIn this briefing we take a look at some of the key changes and developments to expect during 2024. Click for more.
EmploymentDomestically, the CBI publishes ASP feedback statement and guidelines. At European level, the ESAs launch second batch of DORA policy mandates and Council and Parliament agree to create new AMLA authority.
Financial RegulationDomestically, the CBI issues Dear CEO letter on Common Supervisory Action on MiFID II Costs and Charges Requirements. At European level, the ESMA publishes updated Q&A document on MiFID II and MiFIR.
Asset Management & Investment FundsDomestically, the CBI publishes Insurance Corporations Statistics - Q3 2023. At European level, the EIOPA updates representative portfolios to calculate volatility adjustments to the Solvency II risk-free interest rate term structures.
FinanceDomestically, Asset Valuations - FMCs to review asset valuation frameworks by end Q2 2024. At European level, the ESMA updates timeline for its guidelines on ESG and sustainability-related terms in fund names.
Asset Management & Investment FundsDomestically, the Department of Finance launches National Payments Strategy: Public Consultation. At European level, the ECB publishes results of its SREP for 2023 and sets out SSM supervisory priorities for 2024-2026.
FinanceTax policy remains a hot topic at EU level and there is a lot on the agenda for 2024. While the elections to the EU Parliament in June of this year may come with a pause in activity, it is likely to be short lived and we expect to see progress on a number of proposals over the coming months.
TaxAs we have noted previously, the European Commission initially proposed a Corporate Sustainability Due Diligence Directive (the Diligence Directive) on 23 February 2022. The proposed directive then spent several months going through the EU’s legislative process.
Corporate Governance & ComplianceIn a decision handed down late last year, in Churchill v Merthyr Tydfil County Borough Council [2023] EWCA Civ 1416, the Court of Appeal of England and Wales (the Court) has held that courts can order parties to engage in alternative dispute resolution (ADR)
DisputesIn Ireland, there is increasing customer demand for digital payment options and instant payments. Upcoming legislative changes should continue to facilitate the innovation and adoption of new payment offerings.
FinTechThis transaction was the first outbound Cross-Border Conversion of an Irish company and the first Cross-Border Conversion of a regulated insurance company anywhere in Europe. It was also the first Cross-Border Conversion application to come before the Irish Courts.
Insurance & Reinsurance
