Domestically, the Consumer Credit (Amendment) Act 2022 commenced on 18 November 2022 along with regulations under the Act, which set the maximum interest rate at which a high cost credit loan can be provided. At European level, the EBA published its final guidelines in relation to compliance management and the role of the AML/CFT compliance officer under AMLD4.
Financial RegulationDomestically, the CBI introduced new rules that will impact Irish regulated funds that invest primarily in Irish real estate. At European level, ESMA published a consultation paper on guidelines for fund names using ESG or sustainability-related terms.
Asset Management & Investment FundsDomestically, FSPO publishes Digest of Legally Binding Decisions. At European level, EIOPA publishes staff paper answering FAQs on its Proposal for an Insurance Recovery and Resolution Directive.
Financial RegulationDomestically, the CBI updated its webpage for all forms relevant for MiFID Firms. At European level, the ESMA has published its annual report on waivers and deferrals which provides a picture of the European trading landscape in 2021.
Asset Management & Investment FundsDomestically, the Housing Loan Requirements Regulations 2022 (S.I. No. 546 of 2022) were published and are due to commence on 1 January 2023. At European level, the EC has requested advice from the EBA regarding green loans and mortgages.
FinanceThe EU Whistleblowing Directive is currently being transposed into national laws across the European Union. In Ireland, the Protected Disclosures (Amendment) Act 2022 comes into force on 1 January 2023. It brings with it a number of crucially important changes to the existing Protected Disclosures Act 2014 (2014 Act).
EmploymentESMA consultation on fund names using ESG terms, greenwashing, SFDR Q&A, speeches, MMF Stress Tests, Liquidity stress testing, AML/CFT/ Sanctions.
Asset Management & Investment FundsDeadlines, Irish property funds, CP86, CP152, LDI funds, PRIIPs KID, beneficial ownership, sanctions, CBI markets updates.
Asset Management & Investment FundsThe Central Bank of Ireland issued timeframes for receipt of applications that are seeking a Christmas or year-end.
Asset Management & Investment FundsThe Online Safety and Media Regulation Bill 2022 was signed into law on Saturday, 10 December 2022.
TechnologyAs previously highlighted, the Central Bank (Individual Accountability Framework) Bill 2022 (IAF Bill) was published in July of this year, and is continuing to progress through the legislative process. In the latest development, further to review by the Dáil Select Committee, an updated IAF Bill has now been published with some further amendments compared to the initial draft Bill.
ESG & SustainabilityThe powers of departmental officials in Northern Ireland have been extended in a limited way with the introduction of the Northern Ireland (Executive Formation etc.) Act 2022 on 6 December 2022.
Belfast
