Domestically, the President of Ireland signed the Central Bank (Individual Accountability Framework) Bill 2022 (IAF Bill) into law. At European level, the EBA published a consultation paper in relation to amendments to guidelines on risk-based anti-money laundering and countering the financing of terrorism (AML/CFT) supervision.
Financial RegulationDomestically, the Central Bank of Ireland (CBI) has published its Quarterly Bulletin 2023 which found that inflation is easing but is expected to remain elevated. At European level, the EBA has published a new set of indicators to identify potential causes of consumer harm.
FinanceNorthern Ireland is making strides towards a more sustainable future by encouraging the adoption of electric vehicles. However, the lack of electric vehicle charging points in the region is becoming a significant barrier to the widespread uptake of electric vehicles.
BelfastGreen leases are a relatively new concept in Northern Ireland's commercial property market, but they are gaining traction among landlords and tenants alike. Essentially, a green lease is a rental agreement that includes provisions for sustainable building management practices, environmental performance, and energy efficiency.
BelfastFrom 12 April 2023, minimum salary thresholds and going rates will increase for a number of visa routes. These changes reflect the upcoming increases in UK national minimum wage and national living wage rates.
Employment & Incentives BelfastOn 10 March 2023, the Irish Government published its policy decision entitled 'Accelerating Ireland's Offshore Energy Programme: Policy Statement on the Framework for Phase Two Offshore Wind'.
Environmental & PlanningESMA, greenwashing, ELTIFs, AIFMD Q&A, insider lists, MiFIR/ MiFID II, BMR, CSDR, PRIIPs KID, AML/CFT/ FS.
Asset Management & Investment FundsCosts and fees, IAF, CBI expectations, PRIIPs, marketing UCITS and AIFs, F&P, MMFs, CBI Markets Updates.
Asset Management & Investment FundsSection 54 of the Modern Slavery Act 2015 ('the Act') places an obligation on corporations supplying goods and services in the UK (and which have an annual turnover threshold of £36 million or more) to publish an annual slavery and human trafficking statement.
BelfastSince 1 April 2018, the Minimum Energy Efficiency Standards have required commercial landlords to ensure that their commercial properties in England and Wales have a minimum Energy Performance Certificate rating of E. From 1 April 2023, it will be unlawful for a landlord to continue to let a commercial property with a sub-standard rating, unless a valid exemption applies.
BelfastIn order to further the objectives of the European Green Deal, the European Commission put forward proposals on 6 July 2021 for a Regulation of the European Parliament and of the Council on European green bonds. Provisional agreement has now been reached on this proposal and our update provides an overview of this proposal.
Capital Markets - DebtIn January 2023 the Chancery Lane Project (TCLP) published a suite of green lease clauses for use in commercial leases in Ireland. This article outlines the clauses, which are divided into three sets.
ESG & Sustainability
