Financial Regulatory

Credit unions will have until the end of June to hold their 2020 AGMs virtually following an extension of Covid-19 rules. The Finance (Miscellaneous Provisions) Act 2020, signed into law last December, extended the timeline for credit unions to hold their 2020 AGMs to end of April. It also allowed f

Matheson and Maples and Calder, the Maples Group's law firm, have been ranked among the leading legal advisers to the Irish funds industry. The Monterey Insight Ireland Fund Report has recorded double-digit growth for the funds industry in the year to the end of June 2020.

The High Court has upheld a complaint against Danske Bank for mis-selling a mortgage to a couple. The bank had appealed a decision of the Financial Services and Pensions Ombudsman who had found that the Bank had not properly informed the complainants of the effect of taking out a new mortgage and fa

Legislation modernising investment limited partnerships (ILPs) in Ireland will be fully commenced by March, Finance Minister Paschal Donohoe has announced. The Investment Limited Partnership (Amendment) Act 2020, approved by the Oireachtas last month, enhances the transparency applied to Ireland's f

Legislation modernising investment limited partnerships (ILPs) in Ireland has been approved by the Oireachtas and is due to be signed into law. The Investment Limited Partnership (Amendment) Bill 2020 modernises the Investment Limited Partnership Act 1994 and aligns it with more recent domestic and

Credit unions can hold their annual general meetings online in whole or in part under new legislation approved by the Oireachtas. The Finance (Miscellaneous Provisions) Bill 2020 will allow credit unions to hold their AGMs in spite of Covid-19 restrictions.

A £14 billion claim against Mastercard on behalf of 46 million UK customers can go ahead, the UK Supreme Court has ruled in a landmark judgment. The court agreed that the Competition Appeal Tribunal (CAT) made numerous errors of law in refusing to certify a mass consumer collective action brou

Ministers have approved legislative plans aimed at enhancing Ireland's regulatory environment in international financial services. The Investment Limited Partnerships (Amendment) Bill 2020 aims to promote investment and secure Ireland's competitiveness as a market for financial services.

Former Irish president Mary Robinson has been appointed to a panel investigating allegations of corruption at the African Development Bank (AfDB). Mrs Robinson, an experienced barrister, will be joined by Hassan Jallow, Chief Justice of the Gambia, and Leonard McCarthy, a former South African prosec

Solicitor MaryRose McGovern has been promoted to deputy financial services and pensions ombudsman. Finance Minister Paschal Donohoe yesterday appointed Ms McGovern to take up the new role as deputy ombudsman from 20 April 2020, as well as reappointing Ger Deering as the ombudsman.

The Court of Appeal has upheld the order of the High Court that the evidence of a loan servicer was inadmissible hearsay. The proceedings concerned the admissibility of the evidence adduced by Promontoria in its application for summary judgment against Gerry Burns and Anne Burns, and whether it was

A couple received €10,000 in compensation last year after €800 in legal fees was added to their mortgage loan account, a new report has revealed. The couple complained to the Financial Services and Pensions Ombudsman (FSPO) and their settlement was included as a case study in its overview

Dillon Eustace remains the leading legal adviser to Irish-domiciled funds, according to a new report. The firm advises more Irish funds than any other law firm and has continued to do so for over two decades, independent fund research company Monterey Insight said.

Financial regulators in Ireland and the US want institutions to speak up about culture change, a conference hosted by Eversheds Sutherland has heard. The law firm sponsored the well-attended "Regulating Banking Culture" conference at UCD Sutherland School of Law, which comprised a series of roundtab

A man who appealed against the High Court’s decision to grant summary judgment of €221,000 to Bank of Ireland Mortgage Bank has successfully argued that the bank provided insufficient details to be entitled to its claim. Chief Justice Frank Clarke said the obligation that “a defenda