On 26 July 2024, the European Supervisory Authorities published final draft regulatory technical standards on the subcontracting of information, communication and technology services that support critical or important functions within financial entities.
DORAThis Dispute Resolution Guide to Arbitration Places is designed to assist in-house counsel, corporate lawyers and arbitration practitioners with efficiently accessing key insights into a large range of jurisdictions, including for the purposes of negotiating the choice of arbitral seats and conducting arbitral proceedings in those jurisdictions.
DisputesThe Fitness & Probity processes is an important part of maintaining Ireland's reputation and integrity as a financial services centre.
Insurance & ReinsuranceThe Subsidy Control Act 2022 came into force on 4 January 2023. We revisit the topic to examine the features of the newly reformed regime that both public bodies granting subsidies and competitors of those receiving subsidies should be aware of.
BelfastJuly was a busy month in terms of sustainability reporting and due diligence updates. The European Commission, EFRAG and ESMA each provided practical guidance to Member States and relevant businesses alike.
ESG & SustainabilityDomestically, the CBI set out to update its Fitness & Probity Regime following independent review. At European level, the ESMA publish second final report under MiCAR and two sets of consultations launched under MiCAR.
Financial Regulation AdvisoryAt European level, the ESMA launch consultations under MIFIR publish consultation on draft technical standards specifying the criteria for how investment firms establish and assess the effectiveness of their order execution policies.
Asset Management & Investment FundsDomestically, the Motor Insurance Insolvency Compensation Bill 2024 completed final stages in the Dáil. At European level, EIOPA publish factsheet on the regulatory framework applicable to AI systems in the insurance sector.
FinanceDomestically, the CBI published an independent review of its Fitness & Probity Regime. At European level, the ESMA publish opinion on the sustainable finance regulatory framework, setting out possible long-term improvements.
Asset Management & Investment FundsDomestically, the CBI published its updated guidance note on completing an application for authorisation as a credit servicing firm and/or credit servicer. At European level, the EBA publishes a consultation paper to overhaul its resolution planning reporting framework.
FinanceThe European Securities and Markets Authority (ESMA) published a consultation paper on draft guidelines on the reverse solicitation exemption for third-country firms under the Markets in Crypto-Assets Regulation (MiCAR) at the end of January 2024.
Financial Regulation AdvisoryThe Employment Permits Act 2024 (the Act) was recently signed into law. While we await a commencement order for the Act to come into effect, the Act contains important updates to the employment permits system which employers in Ireland should be aware of.
Employment
