1 June 2023 marked a significant step forward for patent protection and enforcement in Europe with the commencement of the Unified Patent system. It created a Unitary Patent, that provides uniform protection and equivalent effect across all participating Member States under the jurisdiction of one court, the Unified Patent Court.
TechnologyAt European level, the ESAs published a joint report on the extent of voluntary disclosure of PAI’s under SFDR.
Asset Management & Investment FundsDomestically, the CBI Director of Securities and Markets delivered a speech on sustainable finance in practice for fund managers. At European level, the European Commission launched a consultation on SFDR implementation.
Asset Management & Investment FundsDomestically, the CBI published its Regulatory Service Standards Performance Report for January - June 2023. At European level, the ECB issued Decisions and a Regulation concerning the Single Supervisory Mechanism.
FinanceDomestically, the CBI published its Insurance Quarterly Newsletter and Insurance Corporation Statistics for Q2 2023. At European level, EIOPA launched a survey on access to cyber insurance and appointed new members to the Management Board.
FinanceDomestically, the CBI updated its Beneficial Ownership Q&A. At European level, ESMA published its 2024 Annual Work Programme.
Financial RegulationUse of ESG-related language in the EU funds industry, ESMA CfE on shortening the standard settlement cycle, ESMA CSA on MiFID II sustainability requirements, SFDR, AML/CFT/FS.
Asset Management & Investment FundsDeadlines, CBI funds regulatory and supervisory update.
Asset Management & Investment FundsThe way in which taxes arising on the exercise of employee share options are collected is due to change from 1 January 2024. The Irish government’s Finance Bill was published on 19 October 2023 and contains a previously unannounced change which will bring share options within employer payroll withholding obligations under the Pay As You Earn (PAYE) system for the first time.
EmploymentWithin the energy sector, the term ‘over install’ refers to the practice of installing more energy generation capacity than is currently needed to meet the immediate demand for electricity. Although over installation can lead to higher upfront costs, it can provide businesses with energy security and help meet renewable policy targets. Read more here.
BelfastESG & Sustainability Lead, Jill Shaw looks at a number of updates of relevance to those companies that fall within scope of the sustainability reporting obligations under the Corporate Sustainability Reporting Directive.
ESG & SustainabilityThe Sick Leave Act 2022 (the Act) has been in force since 1 January 2023 and provides employees in Ireland with a right to statutory sick pay (SSP) for the first time. Read more here.
Employment
