Key Takeaways -
The EU-U.S. Privacy Shield does not ensure an adequate level of protection of personal data and is therefore not a lawful basis for data transfers to the U.S....more
7/24/2020
/ Binding Corporate Rules ,
Court of Justice of the European Union (CJEU) ,
EU ,
EU-US Privacy Shield ,
European Commission ,
European Economic Area (EEA) ,
International Data Transfers ,
Personal Data ,
Privacy Laws ,
Risk Assessment ,
Schrems I & Schrems II ,
Standard Contractual Clauses ,
US-EU Safe Harbor Framework
Bond Connect applications -
The Central Bank of Ireland confirmed on 21 March 2019 that it would begin to accept applications from Irish authorized investment funds to participate in China Bond Connect ("Bond Connect")....more
4/12/2019
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Bond Connect ,
Central Bank of Ireland ,
China ,
Data Protection Commissioner ,
EU ,
Investment Funds ,
Investor Protection ,
Ireland ,
No-Deal Brexit ,
UCITS ,
UK
MoUs with the Financial Conduct Authority (FCA) -
The Central Bank of Ireland has agreed a Memorandum of Understanding (MoU) on February 1, 2019 with the Financial Conduct Authority (FCA) of the United Kingdom (UK) on foot...more
3/14/2019
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Central Bank of Ireland ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Investment Funds ,
Ireland ,
Memorandum of Understanding ,
Regulatory Agenda ,
UK Brexit
Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2019 -
The Government of Ireland approved the general scheme of drafting of the Criminal Justice (Money Laundering and Terrorist Financing)...more
2/6/2019
/ AMLD IV ,
Anti-Money Laundering ,
Asset Management ,
Banking Sector ,
Beneficial Owner ,
Central Bank of Ireland ,
Criminal Code ,
EU ,
EU Directive ,
Financial Institutions ,
Investment Funds ,
Ireland ,
Member State ,
MMF ,
Money Market Funds ,
New Guidance ,
Terrorist Financing Regulations
Central Bank says Brexit contingency planning must continue -
The Central Bank’s Director General for Financial Conduct, Derville Rowland spoke at the Irish Funds Annual UK Symposium on 15 November 2018, telling asset...more
Central Bank publishes the fifth edition of its investment firms Q&A -
The Central Bank of Ireland published the fifth edition of its Investment Firms Questions and Answers (the “Q&A”) on October 8, 2018, containing an...more
General data protection regulation – Irish funds working group updates -
In July 2018, the Irish Funds General Data Protection Regulation ("GDPR") (Regulation (EU) 2016/679) working group (the "Working Group") issued an...more
10/8/2018
/ Anti-Money Laundering ,
Asset Management ,
Beneficial Owner ,
Central Bank of Ireland ,
EU ,
EU Directive ,
European Supervisory Authorities (ESAs) ,
Financial Institutions ,
General Data Protection Regulation (GDPR) ,
ICAV ,
Investment Companies ,
Investment Funds ,
Ireland ,
Performance Fee Rule ,
QIAIF ,
UCITS ,
UK Brexit
The California legislature unanimously approved and California Governor Jerry Brown signed into law the California Consumer Privacy Act of 2018 (CCPA) on June 28, 2018. The CCPA is arguably the most far-reaching data...more
9/19/2018
/ California Consumer Privacy Act (CCPA) ,
Consent ,
Consumer Privacy Rights ,
Covered Entities ,
Cybersecurity ,
Data Breach ,
Data Collection ,
Data Privacy ,
Data Protection ,
Disclosure Requirements ,
General Data Protection Regulation (GDPR) ,
New Legislation ,
Opt-Outs ,
Personally Identifiable Information ,
Privacy Laws ,
Privacy Policy ,
Private Right of Action ,
Right to Be Forgotten ,
Right to Delete ,
Right To Know ,
State Attorneys General ,
State Data Breach Notification Statutes
The International Swaps and Derivatives Association ("ISDA") has published two new ISDA Master Agreements in a Brexit prompted update for the European OTC Derivatives market.
What has happened?
On 28 June 2018, new...more
Central Bank publishes twenty-third edition of UCITS Q&A -
The Central Bank published the 23rd Edition of the Central Bank UCITS Q&A on 5 July 2018. A new question, ID 1002, in relation to UCITS investing in non-UCITS...more
8/7/2018
/ Anti-Money Laundering ,
Asset Management ,
Central Bank of Ireland ,
Derivatives ,
EU ,
Financial Statements ,
Fund Managers ,
Investment Funds ,
Ireland ,
ISDA Master Agreement ,
New Guidance ,
Public Limited Companies (PLC) ,
Public Listing ,
Swaps ,
UCITS ,
UK Brexit
Central Bank issues new edition of the AIFMD Q&A -
The Central Bank published the 30th edition of the AIFMD Q&A. ID 1083 on 4 May 2018, which relates to loan originating Qualifying Investor AIF and obligations to report...more
Irish Revenue Guidance on Section 110 -
The Irish Revenue Commissioners (“Revenue”) issued a new Tax and Duty Manual (the “Tax Manual”) on 24 May 2018, setting out the position to deal with some of the uncertainties around...more
6/7/2018
/ AIFM ,
AIFs ,
Amended Rules ,
Anti-Money Laundering ,
Asset Management ,
Beneficial Owner ,
Central Bank of Ireland ,
EU ,
Income Taxes ,
Investment Funds ,
Investment Management ,
Ireland ,
MiFID II ,
New Guidance ,
Tax Reform ,
UCITS
Consultation Paper: amendments to Central Bank UCITS Regulations -
The Central Bank published a Consultation Paper (CP 119) on 29 March 2018, proposing amendments to the Central Bank UCITS Regulations and the consolidation...more
5/10/2018
/ AIFM ,
Asset Management ,
Central Bank of Ireland ,
Consultation Periods ,
Corporate Taxes ,
EU ,
European Securities and Markets Authority (ESMA) ,
Income Taxes ,
Investment Funds ,
Ireland ,
Proposed Amendments ,
Revenue Procedures ,
UCITS
Central Bank Updates AIF Rulesbook for Loan Origination QIAIFs -
The Central Bank released on 14 March an updated AIF Rulebook with amendments in relation to Loan Originating Qualifying Investor Alternative Investment...more
4/3/2018
/ AIFs ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Central Bank of Ireland ,
EU ,
European Securities and Markets Authority (ESMA) ,
Investment Funds ,
Ireland ,
Loan Originating Qualifying Investor Alternative Investment Funds (L-QIAIFs) ,
MiFID ,
UCITS ,
UK Brexit
An immense volume of personal data (or personally identifiable information) is proliferating and flowing throughout the world. Personal data is an incredibly valuable asset to companies but data protection and privacy laws...more
3/13/2018
/ Consent ,
Contract Terms ,
Data Controller ,
Data Mapping ,
Data Protection Officers (DPOs) ,
Employee Training ,
Employer Liability Issues ,
EU ,
EU Data Protection Laws ,
European Economic Area (EEA) ,
General Data Protection Regulation (GDPR) ,
International Data Transfers ,
Multinationals ,
Notice Requirements ,
Personal Data ,
Personally Identifiable Information ,
Privacy Policy ,
Third-Party Relationships
Central Bank to Amend the Requirements for Loan Origination QIAIFs -
The Central Bank has published a notice of intention to amend the requirements for loan origination Qualifying Investor AIF set out in the AIF Rulebook....more
2/28/2018
/ AIFs ,
Amended Rules ,
Asset Management ,
Central Bank of Ireland ,
Data Protection Acts ,
Disclosure Requirements ,
Document Management ,
EU ,
General Data Protection Regulation (GDPR) ,
Investment Funds ,
Ireland ,
Loan Origination Funds ,
QIAIF ,
UK Brexit
New edition of UCITS and AIFMD Q&As published by the Central Bank -
The Central Bank recently published the 28th edition of AIFMD Q&A on the 2 January 2018. A number of new questions have been answered regarding the PRIIPS...more
1/30/2018
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Central Bank of Ireland ,
EMIR ,
EU ,
Financial Services Industry ,
Investment Firms ,
Investment Funds ,
Ireland ,
MiFID II ,
MiFIR ,
Outsourcing ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Risk Management ,
UCITS
As a result of the 2008 financial crisis, and to help make money market funds (“MMFs”) more resilient to the potential for heavy redemptions in times of stress, the European Commission issued a proposal for a regulation on...more
Central Bank Issues FAQ on Brexit -
The Central Bank has issued an FAQ document on Brexit, which provides general information to financial services firms who are considering relocating their operations from the UK to...more
8/8/2017
/ Asset Management ,
Central Bank of Ireland ,
European Securities and Markets Authority (ESMA) ,
Investment Firms ,
Investment Funds ,
Ireland ,
MiFID II ,
Plan Administrators ,
Share Classes ,
UCITS ,
UK Brexit
Discussion Paper on ETFs Published by the Central Bank -
The Central Bank has published this Discussion Paper about Exchange traded Funds (ETFs). It notes that Ireland is the largest European centre for Exchanged Traded...more
Central Bank Reviews Outsourcing Arrangements of Fund Administrators -
The Central Bank completed a review on outsourcing carried out by Irish regulated Fund Administrators....more
New Central Bank Investment Firms Regulations 2017 -
The Central Bank published the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Investment Firms) Regulations 2017 on 13 March 2017. The new...more
Central Bank Publishes Feedback Statement on CP105 -
The Central Bank published its Feedback Statement on CP105 on 19 January 2017. CP105 sets out proposed amendments to the Central Bank UCITS Regulations in light of...more
Central Bank Signs Off on CP86 with a Location Rule Compromise -
The Central Bank published its Third Consultation and Feedback Statement on CP86 on 19 December 2016. While the multi-location rule was abandoned, the...more
2/23/2017
/ AIF ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Central Bank of Ireland ,
China ,
Investment Funds ,
Ireland ,
Outsourcing ,
Qualified Investment Funds (QIFs) ,
Stock Connect ,
UCITS
For the past two years, the European Securities and Markets Authority (“ESMA”), Europe’s main securities regulator, has had UCITS share classes in their sights. It has issued two discussion papers on the topic and has now...more