March 2, 2023
Welcome to the March 2023 edition of Legal News.
Here is a selection of our recent publications on subjects that may affect you or your business.
For more information on any of the topics covered in this edition, please contact the people listed in the articles or your usual William Fry contact.
- High Court Decision Provides Clarity to Foreign Shareholders
A recent High Court case clarifies when a foreign shareholder’s sale of unquoted shares in an Irish PPP company is within the charge to Irish capital gains tax.
- Dear CEO Letter on the Central Bank’s key regulation and supervision priorities for 2023
On 16 February 2023, the Central Bank published a Dear CEO Letter addressing the Central Bank’s key regulation and supervision priorities for 2023.
- Non-material Damage for Data Protection Breaches before the Irish and EU Courts – Clarity Ahead?
Data protection claims are in the dock. The Circuit Court has temporarily halted proceedings for non-material damage claims, pending decisions by the CJEU on compensation for non-material damage in relation to “mere upset” as a result of data privacy infringement.
- ELTIF Enhancements En Route
Enhancements to the ELTIF fund product will go live early next year.
- ESG Litigation – World’s First ESG Suit against a Commercial Bank
In an ever-increasing raft of Environment, Social and Governance (ESG) litigation, news has broken that that BNP Paribas, the largest bank in the euro zone, is facing legal action for fossil fuel financing.
- English Court of Appeal Delivers Notable Ruling In Crypto Disputes Case
The UK Court of Appeal recently overturned a High Court decision regarding issues surrounding the duty of care owed by blockchain developers to cryptocurrency owners in cases of crypto fraud.
- The Human Touch: Employment Law and Artificial Intelligence
Artificial Intelligence is set to have an ever-larger impact on how we work. We consider some of the ways employers can prepare for inevitable AI related changes.
- New Guidance Published for (Re)insurance Undertakings on Intra-Group Transactions
On 30 January 2023, the Central Bank of Ireland published its Guidance for (Re)Insurance Undertakings on Intragroup Transactions & Exposures (IGTs). The Central Bank aims to provide more transparency on its expectations regarding IGTs of (re)insurance undertakings under its supervision and, in doing so, promote a level playing field.
- Asset Management & Investment Funds Update – February 2022
- Update: Derivative Action Filed Against Shell Directors in UK Courts