Financial Regulatory

The Central Bank of Ireland has imposed a €1.82 million fine on Danske Bank over inadequacies in its automated monitoring of transactions. The bank was found to be responsible for three breaches of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010.

Dentons has announced the recruitment of Siobhan Carlin as a banking and finance partner in its Dublin office. Ms Carlin will join the firm in October from William Fry, where she is currently a partner.

Hogan Lovells has announced the appointment of Eimear O'Brien as a partner in the firm's global regulatory practice in Dublin. Ms O'Brien joins the firm from Birchal Ireland where she was the chief legal officer and an executive director. Prior to that, she was one of the early recruits at DLA Piper

Ogier Leman LLP has announced the appointment of Laura Holtham as partner in the firm's banking and finance team. Previously working with the firm as a banking and finance consultant, Ms Holtham has several years of legal experience across a variety of finance transactions, focused on structured fin

Dillon Eustace partners John O'Riordan and Rachel Turner examine the Central Bank of Ireland's move towards greater enforcement. Last year saw the Central Bank impose a record level of monetary fines on financial firms and individuals. These fines contributed to the Central Bank’s profits incr

Solicitor Siobhan Moloney has been appointed as chair of GemCap Investment Funds Plc. Ms Moloney is dual-qualified as a solicitor in Ireland and in England and Wales. She holds a bachelor of civil law from UCD as well as a diploma in applied finance law from the Law Society.

International financial services law firm Walkers has announced the appointment of two new partners in Ireland. Damien Barnaville has been promoted to partner in the firm's asset management and investment funds group, while Shane Martin has been promoted to partner in the regulatory and risk advisor

Crypto exchange Gemini has become the first and only company to be registered as a virtual asset service provider (VASP) with the Central Bank of Ireland for AML/CFT purposes. The EU's Fifth Anti-Money Laundering Directive extended anti-money laundering and countering the financing of terrorism (AML

Tech giant Apple is facing a lawsuit in the US over allegations that its monopoly on contactless payments made using iPhones constitutes anti-competitive conduct. iPhone users can only make contactless payments through Apple Pay, while users of Android-powered smartphones can choose between competin

Matheson partners Karen Reynolds and Michael Byrne discuss a recent successful application in the UK courts for service of court proceedings by transfer of an NFT, and consider whether similar applications for substituted service could be on the horizon in Ireland. In a first for the UK courts,

John Breslin SC has been elected as chair of the newly-launched Financial Services Bar Association (FSBA). Mr Justice David Barniville, president of the High Court, will address the launch of the new specialist bar association in the Distillery Building today at 4.30pm.

Matheson partner Joe Beashel explains the role of "stablecoins" in the world of cryptocurrency and how they are treated in Irish law. A stablecoin is a form of cryptocurrency which has its value 'pegged' to the value of another currency, commodity, asset or group of same. The purpose of a stablecoin

A report assessing the impact of a new ban on "price walking" in the Irish motor and home insurance markets will be produced by the Central Bank within six months. Under regulations which came into effect from 1 July 2022, Ireland became the first EU country to ban price walking, whereby renewing cu

Certain large systemic investment firms will be required to re-authorise as credit institutions following the transposition of the Investment Firms Directive (IFD) into Irish law. Three statutory instruments have been signed by finance minister Paschal Donohoe to complete the transposition of the IF

Legislation allowing the government to set a maximum interest rate for high-cost credit loans has completed its journey through the Oireachtas. Once enacted, the Consumer Credit (Amendment) Bill 2022 will redefine "moneylenders" as "high-cost credit providers" and allow the finance minister to intro