Looking Ahead: Irish Developments - Horizon Scanner: Finance, August 2025

The EU Retail Investment Strategy is a legislative package which introduces significant changes to the UCITS Directive and AIFMD, as well as MiFID II, the Insurance Distribution Directive and the Solvency II Directive via an omnibus directive (Omnibus Directive).

The Central Bank of Ireland's thematic assessment of the Fitness and Probity regime within the MiFID investment firm sector reveals critical gaps in governance documentation and evidence. Firms are struggling to demonstrate adequate due diligence processes, policy implementation, and Management Responsibility Map compliance. Can your organization withstand regulatory scrutiny of its F&P framework?

Dechert's submission to Ireland's Department of Enterprise, Tourism and Employment advocates for comprehensive reform of the Limited Partnerships Act 1907, proposing removal of the 20-partner limit, introduction of a statutory whitelist of permitted activities, and full recognition of the commitment and drawdown capital model to modernize Ireland's private fund structures and enhance competitiveness with global jurisdictions.

Commission Delegated Regulation (EU) 2026/825 introduces sweeping changes to MiFID order execution requirements, shifting from public disclosure to robust internal governance. Investment firms face enhanced obligations around execution venue selection, continuous quality monitoring using objective market data, and comprehensive documentation of routing decisions. How will firms adapt their execution frameworks to meet these data-driven standards by the February 2028 deadline?

Ireland's Department of Finance unveils its Vision 2030 strategy to strengthen the country's position as a leading international financial services hub through 31 targeted actions addressing legislation, regulation, digital transformation, and talent development.

The Central Bank of Ireland (the “Central Bank”) has published a thematic assessment report (the “Report”) following a review of the implementation of key aspects of the Fitness and Probity regime (the “F&P Regime”) in the MiFID investment firm sector.

The Central Bank of Ireland has published its assessment of how MiFID investment firms implement the Fitness and Probity regime, revealing significant gaps in due diligence processes and documentation practices. While many firms demonstrated strong policies, a notable cohort failed to effectively apply requirements in practice, particularly around onboarding and annual certification. The assessment provides clear expectations for firms to strengthen their governance frameworks and embed the Individual Accou

The Central Bank of Ireland has issued comprehensive guidance on prohibition notices under its fitness and probity regime, while simultaneously releasing its second payment and e-money newsletter addressing critical compliance matters. These publications coincide with the second edition of the Financial Crime Bulletin, which emphasizes escalating fraud risks and the evolving AML/CFT supervisory framework across Ireland's financial services sector.

Ireland's Department of Finance has unveiled its Ireland for Finance Strategy Vision 2030, charting an ambitious course for the country's international financial services sector with concrete commitments on fund tokenisation, private asset growth, and legislative modernisation.

Ireland launches its ambitious 2026-2030 financial services strategy, outlining 31 key actions and 36 performance indicators designed to strengthen the country's position as a global international financial services centre. The strategy focuses on maintaining competitiveness, scaling capacity, leveraging digital transformation, and developing stronger links with domestic businesses across aviation finance, insurance, banking, and capital markets sectors.