Funds Focus – June 26
June 2026 outlines Irish and EU regulatory developments, ESMA findings, CBI insights, consultations, IOSCO recommendations, and key deadlines.
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June 2026 outlines Irish and EU regulatory developments, ESMA findings, CBI insights, consultations, IOSCO recommendations, and key deadlines.
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The Central Bank of Ireland proposes new guidance on enhanced liquidity levels aiming to improve MMF market resilience.
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High Court sets aside Central Bank prohibition notice
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The Central Bank’s 2025 Authorisations and Gatekeeping Report outlines regulatory authorisation activity and oversight across Ireland’s financial s...
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Central Bank publishes report confirming all twelve recommendations from Andrea Enria's Fitness and Probity review have been implemented.
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The Central Bank of Ireland updates the supervisory approach set out in their "Our Approach to Supervision" document.
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Central Bank of Ireland calls for feedback on regulatory impact assessments and public consultation framework.
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July 2026 update: Irish and EU fund regulatory developments, including CBI UCITS changes, ESMA CSAs, delegation review, and Q3 tracker.
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The Central Bank's second Payments and E-Money Newsletter highlights the supervisory priorities, regulatory reforms and reporting deadlines relevan...
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August 2026 updates cover Irish, UK and EU regulatory developments for fund managers, plus a Q3 2026 tracker.
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New Central Bank Winding-Up Powers Strengthen the Oversight of Irish (Re)Insurers
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May 2026 update highlights Irish and EU regulatory developments for fund managers, covering AIFMD II and CBI insights.
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The latest Insurance Quarterly newsletter highlights several supervisory updates of interest to Irish (re)insurers.
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The revised Consumer Protection Code took effect on 24 March 2026, following a one-year implementation period after publication.
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We look at the new third-country branch regime under CRD VI and how this might impact third-country financial services firms providing core banking...
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Central Bank’s 2026 Outlook highlights key risks and supervisory priorities, focusing on insurance sector issues for Ireland’s companies.
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Our Financial Regulation team reviews the MiFID Investment Firm section of the 2026 Central Bank RSO.
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Our Financial Regulation team reviews the Markets Sector section of the 2026 Central Bank RSO, which includes supervisory priorities for Crypto fir...
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On 26 February 2026, the Central Bank of Ireland (Central Bank) published its 2026 Regulatory and Supervisory Outlook (RSO) report, outlining its p...
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The Central Bank of Ireland published details of its AIFMD II/UCITS VI fast track filing process for updates to fund documentation for UCITS and AI...
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Our Financial Regulation team reviews the Payments and Electronic Money section of the 2026 Central Bank RSO.
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On 26 February 2026, the Central Bank published its RSO outlining key financial sector risks and supervisory priorities.
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Our Financial Regulation team reviews recent Department of Finance decisions on the transposition of the national discretions contained in the CRD ...
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The Central Bank Reform Act 2010 (Sections 20 and 22) (Amendment) Regulations 2026 (PCF Regulations) are operative since 10 February 2026 and inclu...
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The Central Bank has opened a consultation on draft guidance concerning fitness and probity prohibition notices.
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Streamlined Central Bank authorization process for Loan originating AIFMs to comply with AIFMD 2.0 by 16 April 2026
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Here is a selection of our recent publications from December 2025.
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On 18 December 2025, the Central Bank of Ireland issued a Dear CEO letter to Electronic Money Institutions to highlight a European Commission inter...
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The Central Bank's final Insurance Quarterly Newsletter sets the tone for 2026 with important supervisory updates for (re)insurers.
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William Fry's Financial Regulation team looks at the Central Bank of Ireland's comments on safeguarding, following a thematic inspection.
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William Fry's Financial Regulation team reviews the first edition of the Central Bank of Ireland's Payment and E-Money Newsletter.
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On 10 December 2025, the Central Bank of Ireland outlined its approach to a more effective and efficient regulatory and supervisory framework.
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Here is a selection of our recent publications from November 2025.
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The Central Bank of Ireland's Deputy Governor outlines the key priorities for regulated firms implementing the new Consumer Protection Code 2025.
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Our financial regulation specialists review the Central Bank of Ireland's revisions to its Fitness and Probity regime following a consultation with...
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Updates include the CBI’s year-end cut-off times for fund submissions, the leaked draft of the European Commission’s SFDR 2.0 proposal, and the CBI...
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On 30 October 2025, the Governing Council of the European Central Bank announced its decision to move to the next phase of the digital euro project.
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We review the new FCA authorisations webpage and the examples of best practice and areas for improvement for applicants for regulatory authorisatio...
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The Central Bank of Ireland recently contacted certain regulated firms to inform them that those intending to avail of an exemption in respect of c...
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One year on from its implementation, SEAR is set to apply to (I)NEDs of in-scope firms.
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Central Bank of Ireland published its revised Consumer Protection Code, marking the culmination of a three-year overhaul of the consumer protection...
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The Central Bank has published its latest newsletter for investment firms and intermediaries.
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June 2025 edition of William Fry's Asset Management & Investment Funds Update.
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The European Accessibility Act ((EU) 2019/882) is a directive that aims at providing greater accessibility for people with disabilities, to a wide ...
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The Central Bank of Ireland recently published its annual Authorisations and Gatekeeping Report.
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May 2025 updates include CBI amendment of its rule to permit semi-transparent ETFs, ESMA publication of technical standards and final report on liq...
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April 2025 updates include CBI clarification on QIAIFS providing third-party guarantees, alterations to the Phase 2 timeline of the DIFR, and the p...
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William Fry's financial regulation specialists examine the Central Bank of Ireland's proposed revisions to its Fitness and Probity (F&P) regime.
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The Newsletter addresses the Revised CPC and Asset Intensive Reinsurance.
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On 24 March 2025, the Central Bank of Ireland published the revised Consumer Protection Code following an extensive three-year review. Regulated fi...
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March 2025 updates include ESMA launch of Common Supervisory Action, CBI Review of Irish Domiciled Hedge Funds and CBI publication of its Regulator...
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On 28 February 2025, the Central Bank of Ireland (Central Bank) outlined its new approach to supervising regulated financial services firms.
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On 28 February 2025, the Central Bank of Ireland (Central Bank) published its 2025 Regulatory and Supervisory Outlook report (RSO), outlining its p...
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February 2025 updates include DORA ICT incident reporting requirements, a CBI cost questionnaire, and ESMA's 2024 report on EU retail investment pr...
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Welcome to the February 2025 edition of Legal News. Here is a selection of our recent publications.
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In December 2024, the Central Bank of Ireland (Central Bank) published a document (MiCAR Guidance) setting out its authorisation and supervision ex...
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The Central Bank highlighted several areas requiring greater supervisory diligence in the insurance industry for 2025.
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The Central Bank's November 2024 Cross Sectoral Guidance seeks to increase the transparency of the authorisation process for all firms seeking to b...
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January 2025 updates from ESMA include a consultation on open-ended loan originating AIFs, Q&A on fund names, and CBI updates featuring a new dedic...
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The Central Bank of Ireland published its latest newsletter for the retail intermediaries sector in Ireland.
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December 2024 updates across outcomes from CBI ETF Review, CBI year-end deadlines, T+1 updates, CBI AIFM enforcement actions and sustainable finance.
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Here is a selection of recent podcasts and publications contained in our December 2024 edition of Legal News.
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William Fry's Financial Regulation team examines the template key facts document (KFD) for applicants for authorisation as a crypto-asset service p...
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William Fry's Financial Regulation team looks at a recent enforcement action against a payment institution which was penalised for safeguarding and...
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William Fry's Financial Regulation team examines recent updates on the authorisation of Crypto-Asset Service Providers in Ireland under the Markets...
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The Central Bank of Ireland published its latest quarterly Insurance Newsletter in September 2024 covering several topics of note for Irish (re)ins...
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October 2024 updates across procedural changes for submissions to the CBI portal, proposed limited partnerships reform, the Overseas Funds Regime a...
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In this Part 2 follow on article, we elaborate in more detail on areas for importance for (re)insurers and intermediaries.
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In this article, our Insurance team review and deal with some key themes affecting the insurance industry and intermediaries.
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William Fry's Financial Regulation team looks at recent Central Bank remarks on the evolving approach to combatting financial crime under the EU AM...
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On 25 September 2024, the Central Bank of Ireland announced that its first Innovation Sandbox Programme, which is themed combatting financial crime...
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The Central Bank of Ireland has recently updated its approach to authorising electronic money institutions and payment institutions.
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We look at updates on the IAF including the SEAR Regulations recently signed by the Central Bank.
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EIOPA finalises its supervisory statement on reinsurance concluded with third-country reinsurers.
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We look at updates to the Central Bank's approach to authorising Payment and E-Money Institutions in Ireland.
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The Central Bank of Ireland published its Insurance Industry newsletter for Q1 2024 containing insights and updates for Irish (re)insurers.
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We look at CP158 - The Central Bank Consultation Paper on its proposals to revise the Consumer Protection Code.
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We look at key supervisory priorities for the payments and e-money sector based on remarks at a recent event by the Central Bank.
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We look at the Central Bank’s view on the key trends and risks facing the financial sector, along with its regulatory and supervisory priorities.
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We look a IFSAT decision concerning the Central Bank's refusal of an individual’s application to two senior roles in a regulated financial services...
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We provide an overview of the new regulations and updated Central Bank documentation.
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The Central Bank of Ireland newsletter for Q4 2023 highlights recent regulatory developments and the CBI's supervisory priorities for 2024
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13 Dec 2023, the CBI published consolidated Guidelines relating to the enhanced Administrative Sanctions Procedure. The guidelines are now in force.
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On 24 November 2023, the Central Bank of Ireland (CBI) published a notice of intention confirming that it intends to recognise sustainability knowl...
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The CBI newsletter highlights three key areas of interest to Irish retail intermediary firms, namely: 1. corporate governance 2. client premium acc...
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The Central Bank has published a Feedback Statement and issued final form Regulations and Guidance to firms on the Individual Accountability Framew...
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We discuss the supervisory focus on cyber security, both at a domestic and European level, in light of the Central Bank having recently commenced a...
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We look at the Central Bank's consultation paper on its enhanced approach to innovation engagement in financial services.
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We analyse EIOPA's recent Peer Review Report on Product Oversight and Governance with a particular focus on its comments on the Central Bank of Ire...
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The European Union updated its sanctions against Russia following the invasion of Ukraine in February 2022.
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We focus on three key topics from the Central Bank's latest Insurance Quarterly Newsletter: the thematic inspection of Product Oversight and Govern...
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Development of the IAF continues with further publications from the Central Bank ahead of the first scheduled effective date of 31 December 2023.
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Winding up order in respect of two Russian owned entities brings those companies' assets outside of the control of their ultimate parent for the pu...
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The Central Bank of Ireland published a survey on the impact of digitalisation platforms on the Irish Insurance sector arising from its 2022 Indust...
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On 22 June 2023, the Central Bank of Ireland published the consultation paper CP154 and draft guidelines regarding the Central Bank Administrative ...
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William Fry's Financial Regulation Unit provides an overview of the process and requirements for securing authorisation as an electronic money inst...
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In April 2023, the Central Bank of Ireland updated its procedures on fitness and probity investigations, suspensions, and prohibitions, as provided...
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Welcome to the April 2023 edition of our Asset Management & Investment Funds Update.
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The Central Bank of Ireland publishes its latest Regulatory Service Standards Performance Report and provides details of new changes to the PCF IQ ...
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On 9 March 2023, the President of Ireland signed the Central Bank (Individual Accountability Framework) Act 2023 into law. On 13 March 2023, the Ce...
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The European Insurance and Occupational Pensions Authority published a supervisory statement on the management of non-affirmative cyber exposures.
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On 5 April 2022, the Central Bank of Ireland made further changes to its list of Pre-Approval Controlled Functions (PCFs) under its Fitness and Pro...
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The Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020 is progressing through the legislative process an...
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The Insurance (Miscellaneous Provisions) Act 2022 addresses certain issues arising from the Irish government's Action for Insurance Reform as well ...
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In this article, we highlight the envisaged impact of the proposed Senior Executive Accountability Regime on the Insurance Industry.
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The Central Bank of Ireland published new additions to the list of Pre-Approval Controlled Functions further to its Notice of Intention issued in F...
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The Department of Finance, in collaboration with the Central Bank of Ireland, has invited submissions (by 30 November 2021) on the possible develop...
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The Central Bank of Ireland launches a public consultation on the proposed introduction of guidance outlining action that (re)insurers can take to ...
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On 25 February 2020, the Central Bank of Ireland (CBI) published a notice of intention to prescribe certain functions as Pre-Approval Controlled Fu...
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We outline the key takeaways from EIOPA's peer review report on the performance of the Central Bank of Ireland and other EEA regulators in supervis...
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The General Scheme of the Withdrawal of the UK from the European Union (Consequential Provisions) Bill 2020 proposes a run-off period of up to 15 y...
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A brief overview of how to avoid Greenwashing in the (Re)Insurance Industry.
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The Investment Firms Directive and Investment Firms Regulation (IFD/IFR) will become applicable for MiFID authorised investment firms from 26 June ...
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On 17 July 2020, the Minister for Finance, Paschal Donohoe T.D., announced that the Consumer Insurance Contracts Act 2019 (the Act) will be commenc...
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Ireland has recently modernised its Investment Limited Partnership fund structure with the aim of providing a flexible and tailored regime able to...
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Today, the Central Bank of Ireland published its final Guidance on the Use of Service Companies for Staffing in the Insurance Sector
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On 11 February 2020, Director General of the Central Bank of Ireland (CBI) Derville Rowland addressed the European Financial Forum 30% Club, to hig...
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Climate change risks, outsourcing and digitalisation, are the key topics the Central Bank of Ireland addresses in its latest edition of the Insuran...
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On 14 September 2018, the Central Bank of Ireland (CBI) issued the eagerly awaited feedback statement on its Discussion Paper on exchange traded fu...
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Central Bank Publishes Consultation Paper on Enhancement of Engagement with Stakeholders
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We consider the "Dear CEO" letter issued by the Central Bank of Ireland to all retail intermediaries explaining its findings and expectations going...
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We analyse and set out the key developments and points of relevance from the Consumer Protection Outlook Report 2022.
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The Central Bank of Ireland has recently issued a consultation paper and draft cross-industry guidance on outsourcing, including cloud services. I...
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The Central Bank of Ireland (CBI) has published its Strategic Plan for the next three years.
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The Central Bank of Ireland has published a "2020 Dear CEO Letter" addressing key shortcomings identified from a thematic inspection in relation to...
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Following a recent Central Bank of Ireland enforcement action, we review the decision of the Central Bank and consider the future of senior executi...
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The Report sets out the CBI's main findings from its review of regulated firms' outsourcing activities and outlines the CBI's minimum supervisory e...
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A brief overview of the CBI Administrative Sanctions and the themes of relevance to (Re)insurers.
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In this article, we consider the ongoing Financial Conduct Authority test case and its possible implications for Irish insurers.
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Video: Gráinne Varian, Catherine Carrigy and Lisa Shannon share some insights in the area of Fitness & Probity to better understand the Central Ban...
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The Joint Committee on Finance, Public Expenditure and Reform and Taoiseach published its Report on Pre-Legislative Scrutiny of the General Scheme ...
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The Consumer Protection Act 2022 (the Act) was signed into law on 11 April 2022. The Act extends the scope of firms which are required to secure au...
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EIOPA has issued a Supervisory Statement detailing how national supervisors should approach the regulation of run-off undertakings in light of incr...
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Welcome to the August 2022 edition of Legal News, a selection of our recent publications on subjects that may affect you or your business. We regul...
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Here is a selection of our recent publications on subjects that may affect you or your business.
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An overview of Governor Makhlouf's remarks at the recent Insurance Ireland Annual Industry Lunch held on 16 June 2022.
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The Central Bank of Ireland has issued the largest monetary fine to date on a Fund Service Provider for regulatory breaches relating to the outsour...
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In tandem with the end of the Brexit transition period at 11.00pm on 31 December 2020, the Irish legislation implementing the temporary run-off reg...
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Central Bank of Ireland proposes that customers who remain loyal to their insurer are not penalised with higher prices
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We briefly consider the key topics covered in the 'Governance and risk in a time of uncertainty and change' speech delivered by Deputy Governor of ...
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As part of our Future of How Ireland Works series, our Employment lawyers discuss current issues of concern, from an employment legal perspective, ...
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In this article we consider the new Programme for Government which contains significant Insurance Reform proposals.
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Central Bank issues guidance on the appointment of temporary PCFs in the event of a pandemic-related PCF vacancy
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The Central Bank has set out its regulatory and compliance expectations for the provision of unregulated activities and the application of the 'app...
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The Central Bank of Ireland recently issued a Dear CEO letter setting out immediate actions to be taken by insurers and intermediaries arising from...
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William Fry's submission on CP131 "Regulations for pre-emptive recovery planning for (re)insurers"
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Sarah Twohig and Paddy Murphy of our Litigation & Dispute Resolution team and James Foster of our Insurance and Reinsurance team discuss the Centra...
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CBI Director of Insurance Supervision, Domhnall Cullinan, provided the opening remarks at the CBI's 2020 Insurance Industry Briefing
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The CBI's recent "Dear CEO Letter" outlines supervisory expectations surrounding regulated financial services providers' compliance with the Fitnes...
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The Central Bank of Ireland proposes strong net migration as the most important source of employment growth if the economy continues to grow at rec...
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In 2011, the Irish government outlined ambitious plans for Ireland to become a center of excellence for Islamic finance. David Maughan and Eoghan O...