Significant and wide-ranging new powers of investigation, intervention and enforcement are proposed to be given to the Irish Competition and Consumer Protection Commission (CCPC), under the Competition (Amendment) Act 2022.
Contact usBrexit will increase costs for businesses and, ultimately, prices for consumers. The question is by how much. “Prices will go up for three reasons: import customs duties, the cost of compliance and the risk of delays,” says Carol Lynch, partner BDO Customs and International Trade Services. The general feeling is that, combined, they will increase the cost of doing business by an average of 10...
BrexitBusiness leaders have emerged as clear voices in contrast to the bickering in Westminster Demonstrators supporting a British departure from the European Union, in London in June, 2016. Photograph: Adam Ferguson/The New York Times The backdrop to Brexit is an era of declining global trust, with disillusioned and disenfranchised voters causing shock election results, as well as angry protests b...
BrexitThe European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019 came into force on 22 March 2019, with the exception of Part 3. Part 3, which deals with the Central Register of Beneficial Ownership, will come into force on 22 June 2019...
Asset Management & Investment FundsOn 2 April 2019, the European Commission adopted an interesting decision in regard to the UK's "Controlled Foreign Company" ("CFC") rules. The Commission decided that the rules were partly compatible and partially incompatible with EU State aid law. The case is interesting because it demonstrates that the EU State aid rules continue to apply in the UK notwithstanding its "intention" to leave the
BrexitESMA's preparations for a no-deal Brexit, PRIIPs KIDs, Reform of European System of Financial Supervision, SFTR , IOSCO, AML/ CTF/ Corruption
Asset Management & Investment FundsNew Beneficial Ownership Regulations for corporates, Central Bank permits investment in Chinese bonds via Bond Connect, Central Bank Markets Update, Central Bank speeches.
Asset Management & Investment FundsThe investment funds industry is busy assessing the business and compliance challenges of the United Kingdom (UK) withdrawing from the EU (Brexit). These issues include concerns around marketing permissions, delegation, portfolio impact, trading and counterparties, investor disclosures, contractual changes and GDPR. There is still no certainty over the timing and consequences of Brexit. There hav
Asset Management & Investment FundsLawyers are often criticised for fretting over words. They are also often condemned for using too many words. The current debate in the House of Commons over Brexit clearly demonstrates how words matter and how there can sometimes be a difficulty because too few words are used. The question posed to the electorate in the UK and Gibraltar on 23 June 2016 was a choice between two words: “remain” a
BrexitThe date of the UK's departure from the EU is now less clear after this week's European Council meeting which took place on 21 March 2019
BrexitThe Council of the European Union recently voted unanimously to object to the Commission's delegated act identifying high-risk third countries with strategic deficiencies for the purposes of the money laundering directives (4MLD and 5MLD). The proposed act includes countries such as Puerto Rico and the US Virgin Islands on the list of high-risk third countries for the first time. In a strongl...
Disputes2018 saw 98 notifications of mergers and acquisitions to Ireland's Competition and Consumer Protection Commission (CCPC). This was an increase of 36% in terms of the number of notifications over the number notified in 2017. The number of notifications in 2018 equalled the highest number of notifications on record for either the CCPC or, its predecessor, the Competition Authority.
EU, Competition & ProcurementPresident Michael D Higgins had signed the "Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2019" into law.
Brexit
