Financial Regulatory

A new bill to restrict the total cost of credit on moneylending loans will be drafted following government approval. The Consumer Credit (Amendment) Bill 2021 will introduce a cap on the interest rate a moneylender can charge on a loan and it will prohibit moneylenders from charging for home collect

Legislation to bring providers of hire purchase and personal contract plans (PCPs) under the remit of the Central Bank has been published. The Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021 will implement the key recommendations of the Tutty Report to&nbs

The Department for the Economy (DfE) is teaming up with local company FinTrU to offer 20 training places to graduates who wish to retrain in the legal aspect of financial services. Applications have opened for the assured skills academy, which will be delivered remotely over a five-week period by Be

Business law firm Mason Hayes & Curran LLP has become the first Irish member of The International Stock Exchange (TISE). Headquartered in Guernsey, TISE has more than 3,000 listed securities on its official list with a total market capitalisation of more than £400 billion.

Multinational law firm Pinsent Masons has announced the appointment of Lisa Connaughton as head of company secretarial operations in Dublin. Ms Connaughton, who joins from Maples Fiduciary Services and has over 15 years' company secretarial, compliance and governance experience, will boost the firm'

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.