Financial Regulatory

Retired Supreme Court judge Mr Justice John MacMenamin has been appointed as chairperson of the Irish Financial Services Appeals Tribunal (IFSAT). IFSAT is an independent tribunal which hears and determines appeals brought against certain decisions of the Central Bank. Its decisions can be appealed

The Central Bank of Ireland is seeking views on a new macroprudential policy framework for investment funds. A new discussion paper published yesterday aims to advance ongoing international and European discussions on how a macroprudential perspective in the regulation of the funds sector could be a

The Court of Appeal has held that a fund was entitled to argue in the course of well-charging proceedings that the debtor created an equitable charge over the property. The High Court had determined that the plaintiff could not raise this argument because the plaintiff was not able to rely on a lien

The UK Supreme Court has held that a high street bank did not have a duty not to carry out a customer’s instructions if it had reasonable grounds for believing that customer was defrauded after an appeal against a decision of the Court of Appeal of England & Wales finding that such a duty

The number of Irish sustainability-focused funds has grown by more than 40 per cent since the Sustainable Finance Disclosure Regulation (SFDR) was introduced in 2021, according to new analysis by the Maples Group. The inaugural edition of SFDR Impact Analysis contains a detailed assessment of the cu

McCann FitzGerald LLP has been named as winner in the 'Financial Services Regulatory – Regional Firm' category at the IFLR Europe Awards 2023. The IFLR Awards celebrate legal innovation and showcase transactions that break new legal ground, set precedents and develop the legal environment for

Over 160 solicitors attended the Law Society of Ireland and the Central Bank of Ireland's joint event on new regulations earlier this week. The "Enhanced governance, performance and accountability in financial services – the Individual Accountability Framework" event took place at Blackhall Pl

The Central Bank's powers have been significantly enhanced with the commencement of a large part of new legislation, the government has said. A commencement order was signed by finance minister Michael McGrath yesterday to bring into effect Parts 1, 3 (other than section 10), 4, 5, 6 and 7 of the Ce

More than three-quarters of pension professionals believe that pensions regulations in Ireland are too complex, according to a survey by Mason Hayes & Curran LLP. The business law firm surveyed more than 120 HR and pension professionals attending its recent webinar, Attracting & Retaining Ta

Multinational law firm Pinsent Masons has hired litigation lawyer Lisa Carty as a partner to lead its litigation regulatory and tax offering in Dublin. Ms Carty has over 20 years’ experience advising on a wide range of commercial cases, including contractual disputes, investment disputes, prof

Complaints against banks and pension providers could be heard in public under new legislation brought in response to a Supreme Court ruling. The Financial Services and Pensions Ombudsman (FSPO) will have the power to hold oral hearings in public where it is deemed to be "appropriate or desirable" wh

The Irish government is set to bid for the EU's new Anti-Money Laundering Authority (AMLA) to be headquartered in Ireland. The new EU-wide body is scheduled to become "fully operational" by the beginning of 2024 and to directly supervise financial institutions from 2026.

Matheson partner Rory O'Keeffe and solicitor Samuel Elliott discuss a recent English court ruling and what it means for cryptocurrency developers. In a significant case for investors in, and developers of, cryptocurrencies and other blockchain assets, the English Court of Appeal delivered judgment i

Legislation paving the way for a new individual accountability framework for the financial services sector has been signed into law. The Central Bank (Individual Accountability Framework) Act 2022 provides for a new senior executive accountability regime (SEAR), which will come into force once the C

The High Court has granted leave to Bank of Ireland to lodge a tender in proceedings on condition that the tender only becomes effective after the conclusion of the discovery process. The lodgement application had been made after the discovery process had begun and the bank claimed that it wished to