Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 10 JANUARY 2024

FIG Top 5 At 5 - 21/12/2023

Matheson
Explore more from Matheson

On 14 December 2023, the Department of Finance published its Feedback Statement on the National Discretions within MiCA ("Statement").

European UnionFinance and Banking
Matheson LLP
Matheson LLP
Author LinkedIn connections

1. Department of Finance publishes its Feedback Statement on the National Discretions contained within MiCA

On 14 December 2023, the Department of Finance published its Feedback Statement on the National Discretions within MiCA ("Statement"). The Consultation received 7 responses, including one from Matheson, and for further information on Matheson's view, please see Matheson's submission to the Department of Finance's MiCA Public Consultation.

Since the receipt of the responses to the consultation, the European Securities and Markets Authority ("ESMA") published a letter highlighting the need for coordinated action across Member States to ensure effective application of MiCA. In particular, it raised specific concerns about forum shopping, and requested that Member States reduce the discretionary transition period to 12 months to avoid a number of risks. In the Statement, it is noted that Department officials considered the contents of the letter in their

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

CBI Consults On Third-Party Risk

The Central Bank of Ireland has published a consultation paper proposing new guidance on managing third-party risks that extends beyond traditional outsourcing to encompass partnerships, joint ventures, and fintech collaborations. The proposed framework aligns with recent European Banking Authority guidelines and DORA, introducing a lifecycle-based approach with enhanced contractual provisions and broader scope than the 2021 guidance it will replace. Financial entities now face the challenge of identifying
IrelandFinance and Banking
William Fry LLP
William Fry LLP
Article

Final EBA Guidelines On The Sound Management Of Third-party Risk: What Financial Entities Need To Know

The European Banking Authority has published final Guidelines on the sound management of third-party risk regarding non-ICT services, replacing the 2019 Outsourcing Guidelines and introducing a broader regulatory framework. Financial entities will need to navigate expanded scope requirements, enhanced governance standards, and alignment with DORA while managing compliance timelines and contractual obligations.
IrelandFinance and Banking
Arthur Cox
Arthur Cox
Article

Alternative Investment Funds

Ireland offers a sophisticated regulatory framework for Alternative Investment Funds, with structures ranging from ICAVs and Investment Limited Partnerships to Unit Trusts and Common Contractual Funds. The jurisdiction provides flexible options for both retail and institutional investors, with distinct regulatory pathways for RIAIFs, QIAIFs, and ELTIFs, each designed to accommodate different investment strategies and liquidity profiles while maintaining robust investor protections.
IrelandFinance and Banking
K&L Gates
K&L Gates
Article

SFDR 2.0 Trialogue Negotiations: Key Areas Of Focus For Fund Managers

The European Commission's proposed overhaul of the SFDR regime is entering crucial trialogue negotiations, with the Irish Presidency aiming to reach agreement by year-end. While the Council and Parliament have aligned on key issues like professional investor opt-outs, significant divergences remain on exclusion criteria for Transition funds, PAI reporting requirements, and engagement strategy disclosures that will shape the future of sustainable finance regulation.
European UnionFinance and Banking
Dillon Eustace
Dillon Eustace