Financial Regulatory

The barrister heading the Central Bank of Ireland's financial conduct operations has been elected as chair of the investment management standing committee of the European Securities and Markets Authority (ESMA). Derville Rowland, who joined the Central Bank in 2004 and was appointed as director gene

Two pieces of legislation giving effect to EU directives on money laundering and white collar crime have cleared the Oireachtas. The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill will strengthen existing anti-money laundering legislation and will give effect to provisi

International law firm Simmons & Simmons has announced the promotion of Derek Lawlor and James McKnight to partners in Dublin. The double appointment forms part of a global round of 13 partner promotions across eight offices in Europe and Asia.

Finance lawyer Anna Vangrove has joined Shoosmiths as a banking and finance partner in Belfast. An experienced banking lawyer specialising in real estate finance and energy finance, Ms Vangrove joins from TLT, where she spent six years and was latterly the head of its Belfast banking and finance tea

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