Some good news, on 25 November, the Central Bank announced an important change to their requirements for loan originating Qualifying Investor AIFs (LQIAIFs) which is to take effect from 3 January 2017 when a revised AIF Rulebook will be published.
Asset Management & Investment FundsThe Convention on International Interests in Mobile Equipment and the Protocol to the Convention on Matters Specific to Aircraft Equipment (Cape Town Convention) has taken effect in Australia, Ivory Coast, Denmark, Spain, Sweden and the UK.
Aviation & Transport FinanceLast month, two Uber drivers in London won their test cases before the UK Employment Tribunal (the ET). The ET held that they were "workers" and not self-employed individuals. The significance of this finding is that as "workers" they are entitled to certain minimum statutory protections.
EmploymentThis recent High Court decision highlights the importance for defendants to conduct a forensic analysis of the strengths and weakness of their defences as early as possible. Those with defences that are unlikely to prevail at trial should consider implementing the offer of amends procedure sooner rather than later as those that delay will impede their ability to minimise their financial.....
DisputesThe Protected Disclosures Act 2014 continues to show its teeth with another successful application for interim relief granted in Cork Circuit Court.
Pensions & IncentivesThe European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2016 came into operation on 15 November 2016.
Asset Management & Investment FundsThe Department of Justice and Equality announced on 1 November that it will review the impact of the defamation reforms introduced in 2009.
DisputesTier 2 and Tier 5 'A-rated' Sponsors will gladly welcome the introduction of the new priority service in processing change of circumstances applications.
BelfastNew High Court rules regarding expert evidence became effective on 1 October.
DisputesThe Autumn changes to the UK Immigration Rules have finally been announced and will, for the most part, be introduced on 24 November 2016. The official announcement confirms that the changes promised by the Government earlier this year will be applied with only a few variances.
BelfastEU, Irish and UK competition law prohibit price-fixing between competitors in relation to goods and services. This prohibition applies in whatever way such goods or services are sold to customers. In an important restatement on 7 November, the UK antitrust regulator, the Competition and Markets Authority (CMA), announced that it had launched a campaign to alert online sellers of goods and services
EU, Competition & ProcurementOn the Domestic Front: Central Bank of Ireland publish Intermediary Times – Issue 4, Central Bank Act 1942 (Section 32D) Regulations 2016 and associated guidance published. On the European Front: Joint Committee of the European Supervisory Authorities publishes its 2017 Work Programme, European Commission publishes statement on the G7 fundamental elements of cybersecurity in the financial sector,
Financial Regulation
