Welcome to the October 2022 edition of Legal News, 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.
- Outsourcing Homework for Central Bank of Ireland as EIOPA publishes its Peer Review Report
Over the summer, EIOPA published its peer review report on outsourcing (the Report). It looked at the performance of national supervisory authorities (NSAs) across Europe in supervising outsourcing by (re)insurers between January 2016 and December 2020. - A Stricter Regime is Beckoning for Manufacturers of Popular Beauty Devices
The European Commission has proposed reclassifying certain beauty and brain stimulation devices without an intended medical purpose under the Medical Devices Regulation. - SFDR Level 2 – Less Than 3 Months to Filing Deadline
Following confirmation of 1 December 2022 as the filing deadline under the Central Bank’s SFDR Level 2 fast-track approval process, UCITS managers and AIFMs have less than three months to prepare and file SFDR Level 2 pre-contractual disclosure templates for Article 8 and 9 funds with the Central Bank. - Commission Confirms Ireland’s Participation in Regulation Amending EIR Recast Annexes
The European Commission has adopted a Decision confirming Ireland’s recognition of new insolvency processes from a number of other EU Member States, including Netherlands and Germany, under the European Insolvency Regulation (Recast). - Brexit Continues to Shape the Regulatory Landscape as EIOPA Consults on the use of Third-Country Branches
On 1 August 2022, the European Insurance and Occupational Pensions Authority published a consultation paper setting out a draft supervisory statement on the use of governance arrangements in third countries. - Time Matters – Court of Appeal Affirms High Court Decision Striking Out Proceedings for Inordinate and Inexcusable Delay
The Court of Appeal has upheld an Order of the High Court striking out the plaintiff’s claim for inordinate and inexcusable delay: Doyle v Foley IECA 193. The plaintiff’s claim arose out of disputes under a 2008 Syndicate Agreement for the purchase of shares in a stallion. The total relevant delay was five years and nine months.
In Shorts
- Asset Management & Investment Funds Update: September 2022
- New Government Legislation Programme: Industry & Sector Specific Breakdown Autumn 2022