On the Domestic Front: The Central Bank published issue 9 of 2015 of its Markets Update. On the EU Front: European Commission publishes letter to ESMA on application of AIFMD passport.
FinanceOn the EU Front: Items including the following - ESMA Consultation Paper on the development of MiFIR guidelines - ESMA Guidelines on Cross-Selling Practices under MiFID II now applicable.
Financial RegulationOn the Domestic Front: Items including the following - Central Bank of Ireland publishes new regulations for firms lending to SMEs - Central Bank of Ireland develops a methodology for a broader examination of tracker mortgage-related issues.
FinanceOn the Domestic Front: Items including the following - Central Bank feedback on review of annuity sales process - Central Bank guidance in relation to Fitness and Probity obligations for (re)insurers. On the European Front: Items including the following - Third set of Solvency II Implementing Regulations published - EIOPA Solvency II technical information published.
FinanceFollowing the CJEU decision in the Schrems Case on 6 October 2015 invalidating the Safe Harbour regime, the Article 29 Working Party (the group comprised of representatives of European national data protection authorities (Article 29WP)) gave the EU and US a three month timeline in which to agree a political solution to replace Safe Harbour.
TechnologyFrom 15 February 2016, traders established in the EU that sell or provide goods or services online to consumers must provide a link on their websites to the European Commission's online dispute resolution (ODR) platform.
TechnologyThe grocery sector in Ireland will have to cope with a new set of rules from 30 April 2016. On 1 February 2016, the Minister for Jobs, Enterprise and Innovation signed the Consumer Protection Act 2007 (Grocery Goods Undertakings) Regulations 2016. These Regulations will enter into force on 30 April 2016.
EU, Competition & ProcurementOn 26 January 2016, the European Commission approved the acquisition of Topaz Energy Group Limited, Resource Property Investment Fund Plc ("RPIF") and Esso Ireland Limited by Alimentation Couche-Tard Inc ("ACT").
EU, Competition & ProcurementOn the International Front we look at the Securities Financing Transactions Regulation, the AIFMD passport, the PRIPs Regulation, EU Financial Services Regulation and PSD2.
Asset Management & Investment FundsOn the Domestic Front, we look at Deadlines, Central Bank Markets Update, Central Bank Guidance on Umbrella Cash Accounts, Central Bank UCITS Q&A, CP86 transition timelines, CRS, FATCA and the EU Savings Directive.
Asset Management & Investment FundsThe High Court has refused an application made by Forum Connemara Limited ("Forum Connemara") for a stay on the implementation of the decision made by Galway County Local Community Development Committee (the "Committee") to award Galway Rural Development Company Limited ("GRDCL") a contract for the implementation of the Social Inclusion and Community Activation Programme (“SIPAC”) in County Galway
EU, Competition & ProcurementDirector of Corporate Enforcement -v- Walsh & ors [2016] IECA 2 concerned an appeal by the Director of Corporate Enforcement (the Director) against a decision of Barrett J declining to make a disqualification or restriction order against three directors.
Disputes
