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 usNew 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.
BrexitWe always said that the Brexit negotiations would go to the wire despite there being a two-year timeline. The Strasbourg meeting on the night of Monday, 11 March, when the UK and the EU tabled various documents may or may not be enough to get the House of Commons to approve the draft Withdrawal Agreement. The EU documents are available here while the UK ones are available here. There was just...
BrexitThere are now three main avenues: UK leaves on 29 March 2019 without a deal UK asks, and the EU Member States agree unanimously, to extend the Brexit negotiating period beyond 29 March 2019 UK leaves on 29 March 2019 with a deal No Deal Brexit The first – the "crash out" or "no deal Brexit" – is currently a c.10% option. If this were to happen, it would happen because of a row or an accident...
BrexitThe application of the State aid rules in the context of sport has involved a number of high-profile cases and measures. The application of the State aid rules has also had a particularly important effect in Ireland
EU, Competition & ProcurementThe Government has published updated guidance on arrangements for EEA and Swiss citizens coming to the UK to visit, study, work or join family in the event of a 'no deal' Brexit.
BrexitPart 8 of the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2019 relates to insurance. UK insurers and insurance intermediaries that will still have Irish business (i.e. policyholders) post-29 March 2019 are understandably anxious. "Dear CEO" letters were sent by the Central Bank of Ireland (CBI) in Q4 2018 to all UK insurers and intermediaries passp...
Brexit
