Financial Regulatory

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The Central Bank has issued regulations and guidance to firms on the new individual accountability framework (IAF). The guidance follows a three-month consultation on the implementation of the Central Bank (Individual Accountability Framework) Act 2022.

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Revenue has launched a public consultation on the modernisation of Ireland's administration of value-added tax (VAT). The consultation focuses initially on the modernisation of business-to-business (B2B) and business-to-government (B2G) VAT reporting, supporting by e-invoicing.

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The UK's Financial Conduct Authority (FCA) has fined Equifax Ltd more than £11 million for failing to manage and monitor the security of UK consumer data it had outsourced to its parent company based in the US. The breach allowed hackers to access the personal data of millions of people and ex

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KPMG has been slapped with a record £21 million fine by the UK's Financial Reporting Council (FRC) over its mishandling of the audits for Carillion, the government contractor that collapsed in 2018. The failure of Carillion, which provided construction and facilities management services within

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Pension professionals are optimistic about the potential for AI in their industry — but would not be comfortable taking financial advice from an AI system, according to a survey by Mason Hayes & Curran. The business law firm surveyed 227 professionals at its recent 'Pensions & AI &mdas

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An Garda Síochána has been challenged to explain the legal basis for the deployment of gardaí at Bank of Ireland ATMs while the bank was experiencing technical problems on Tuesday night. Liam Herrick, executive director of the Irish Council for Civil Liberties (ICCL), told Morni

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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

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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

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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

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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

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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

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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

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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

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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

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