JD Supra (Blogs)

• JD Supra Ireland

Welcome to the October – December 2022 issue of our Irish Quarterly Legal and Regulatory Developments report for asset management and investment funds. This report covers key developments during the quarter under the following headings: UCITS & AIFMD developments; Central Bank developments; as well as other legal and regulatory developments, including ESG related updates. Please see...

• JD Supra Ireland

1.1.1 Taxes/Duties Payable Upon Execution of the Sales Agreement VAT Whether there will be any VAT payable on the sale of an aircraft is determined by its physical location at the point of sale. If the aircraft is physically located in Ireland at the time, the place of supply for Irish VAT purposes will be Ireland. As a result, the seller will be liable for any Irish VAT chargeable on the supply,

• JD Supra Ireland

On 4 October 2022, the Central Bank of Ireland published a notice of intention with process clarifications for UCITS and AIFs pre-contractual documentation updates ahead of the implementation of the SFDR Level 2 requirements applying from 1 January 2023. The Central Bank’s intention to make a fast-track filing process available for prospectus updates had been flagged in advance by the...

• JD Supra Ireland

Last year's Budget was presented as setting a course for a journey to a post-pandemic Ireland in 2022. Few could have expected the global economic challenges that were awaiting, including the war in Ukraine, rising inflation and a global energy crisis. Set against this backdrop, Ireland's Budget 2023 was presented as a "Cost of Living Budget" to support individuals, families and businesses to...

• JD Supra Ireland

As another Irish Court year will soon commence, now is an opportune time to look back at some of the more interesting insolvency and restructuring judgments to have been delivered in the Superior Courts during the last 12 months. The judgments explored below will prove of relevance and importance to practitioners and clients navigating distressed corporates and assets over the coming weeks...

• JD Supra Ireland

The Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Act 2022 (the “2022 Act”) was commenced on 16 May 2022. The introduction of the 2022 Act ensures that providers and servicers of hire purchase products including personal contract plans (PCP), consumer hire, and a broader range of credit, will now need to be authorised by the Central Bank of Ireland (the “CBI”).

• JD Supra Ireland

The Central Bank of Ireland has published guidance notes and submission templates on the new outsourcing registers that regulated financial services providers are expected to establish and maintain. For any entities that are required to submit registry information to the Central Bank, details of outsourcing arrangements in place as of 31 December 2021 must be submitted via the online...

• JD Supra Ireland

Having recently conducted a number of anti-money laundering, counter financing of terrorism and financial sanctions (“AML/CFT/FS”) supervisory engagements with Funds and Fund Management Companies (“Firms”), the Central Bank of Ireland (“CBI”) has published a bulletin (the “Bulletin”) which details its findings and expectations across the following key areas: Corporate Governance; AML/CFT/FS

• JD Supra Ireland

On 1 July 2022, the Central Bank provided an update relating to the pre-submission process it has in place for certain Qualifying Investor Alternative Investment Funds (“QIAIFs”). Going forward this process is only required where it is proposed that a QIAIF will invest in: (i) Irish property assets; or (ii) crypto assets. Please see full Publication below for more information.

• JD Supra Ireland

I. Introduction - As a common law jurisdiction, Ireland’s legal system is similar to that of the US and the UK and businesses can be carried on in Ireland in several different ways, including as sole traders, partnerships, or companies. Companies - A company is a body formed and registered under the Companies Act 2014, which has legal personality separate and distinct from its shareholders....

• JD Supra Ireland

On 14 May the Irish High Court handed down its judgment in the judicial review case brought by Facebook Ireland Ltd (FBI) against the Irish Data Protection Commission (DPC), finding substantially in favour of the DPC.

• JD Supra Ireland

The Irish government has increased the rate of stamp duty payable on the purchase of residential units (houses and duplexes), where 10 or more such units are acquired by one party (or by one party and a "connected party") over a 12-month period, to 10% from the current rate of 1% on the first €1 million (and 2% on the value in excess of €1 million). In the event that the 10 units are acquired in...

• JD Supra Ireland

Today saw a key ruling by the Irish High Court which could have wide ranging implications in relation to a range of data use, targeted advertising and data transfers between Europe and the United States. The Irish data protection enforcer, the DPC, had issued a Preliminary Draft Decision (PDD) raising various concerns over the lack of privacy rights of EU citizens when their personal data is

• JD Supra Ireland

This week in the Republic of Labour Law, we discuss an upcoming change to Parent’s Leave. Currently, Parent’s Leave entitles each parent to two weeks’ leave during the first year of a child’s life, or in the case of adoption, within one year of the placement of the child with the family.

• JD Supra Ireland

The Green, Green Grass of Home - Medical cannabis access in Ireland took another step forward last month when Minister for Health, Stephen Donnelly, introduced funding and eased the ways for patients to get access to it.

• JD Supra Ireland

Welcome to our February edition of Republic of Labour Law, a monthly newsletter in which we distil the most important Irish legal and HR updates from the last month in 500 words or less.

• JD Supra Ireland

World Law Group member firms recently collaborated on a Global Venture Capital Guide that covers more than 30 jurisdictions on investment approval processes, typical investment sectors and investment structures on Venture Capital deals (and more!).

• JD Supra Ireland

Why is this topic suddenly of interest? Irish Investment Limited Partnerships (“ILPs”) have been around since the introduction of the Investment Limited Partnership Act in 1994 (the “1994 Act”). Due to certain requirements imposed under the 1994 Act, they have seldom been used – there were only six in existence as of January 2021 based upon statistics published by the Central Bank of Ireland (“CB

• JD Supra Ireland

Welcome to a very special January edition of Republic of Labour Law, a monthly newsletter in which we distil the most important Irish legal and HR updates from the last month in 500 words or less.

• JD Supra Ireland

This week in the Republic of Labour Law, we look at the employment law winners and losers from 2020. In January, Brexit was the headline. In December, Brexit is the headline once more. There is a grim symmetry to this year’s news cycle which was largely filled with Covid.

• JD Supra Ireland

The Central Bank of Ireland (the “Central Bank”) has published two documents which are significant steps towards enhancing the private equity and private credit product offerings currently available in Ireland. These documents have been published in anticipation of the update to the Investment Limited Partnerships Act, which is currently making its way through the Irish parliamentary process.

• JD Supra Ireland

Welcome to our Halloween edition of Republic of Labour Law, a spooky newsletter in which we distil the most frightening Irish legal and HR updates from the last month in 500 words or less.

• JD Supra Ireland

For many in the Funds Industry, the issue on 20 October 2020 of the Central Bank of Ireland’s (the “Central Bank”) Industry Letter (the “Industry Letter”) relating to the Central Bank’s Thematic Review of Fund Management Companies’ Governance, Management and Effectiveness (the “Thematic Review”) was a “Day of Reckoning” in relation to the Central Bank’s review of the operational model for many...

• JD Supra Ireland

“I worry that we are caught in a DPA (Data Protection Authority) beauty contest of who issues the bigger fine,” said Ireland Data Protection Commissioner Helen Dixon in her keynote for Daniel Solove’s Privacy+Security Academy Fall Forum Keynote...

• JD Supra Ireland

News sources reported this month that the Irish data protection authority (DPA) had sent Facebook a preliminary order that would prohibit the transfer of information about European Union (EU) residents to US Facebook users. Facebook will appeal the order. This may be only the beginning of a cascade of orders that threaten to interrupt social media and other forms of internet-based commerce...

• JD Supra Ireland

On 28 September 2020, the Central Bank of Ireland (the “Central Bank”) sent a letter to the Irish funds industry outlining the timeframes for receipt of: (i) new fund applications; and (ii) post-authorisation amendments that have approval deadlines before Christmas or year-end (the “Year-End Letter”).

• JD Supra Ireland

This OnPoint provides an overview of the long-awaited central register of beneficial ownership filing requirements for both ICAVs and Unit Trusts in Ireland together with an update on the specific issues related to maintenance of a beneficial ownership register for Unit Trusts.

• JD Supra Ireland

On May 8, 2020, AbbVie announced that it completed its acquisition of Allergan plc, having received approval by the Irish High Court. AbbVie and Allergan had previously announced, on May 5, 2020, that the U.S. Federal Trade Commission accepted the proposed consent order in connection with the acquisition.

• JD Supra Ireland

ESMA published on 3 April 2020, its Final Report, ‘Guidelines on performance fees in UCITS and certain types of AIFs’ (the “Guidelines”). The Guidelines are the culmination of a consultation process started by ESMA in July 2019 (the “Consultation”) which sought stakeholder feedback on a range of issues relating to the use of performance fees by fund managers.

• JD Supra Ireland

The European Shareholders' Rights Directive II (“SRD II”) has been transposed into Irish law with the publication of the European Union (Shareholders’ Rights) Regulations 2020 (“Regulations”). The Regulations aim to promote greater shareholder involvement in the corporate governance of public companies which have a registered office in the EU and are listed on EU regulated markets (“Investee...