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Articles

Central Bank of Ireland Regulatory and Supervisory Priorities 2025

1 month ago | lexology.com | Josh Hogan |Darragh Peter Murphy |Clare Gillett |James FitzGerald |James Fitzgerald |Martin O'Neill | +2 more

IntroductionThe Central Bank of Ireland (“CBI”) recently released its regulatory and supervisory priorities for 2025, amid what it has described as “global transformational change, heightened volatility and increasing complexity”. The report outlines the regulator’s goals and strategic priorities for the year, while highlighting the CBI’s key concerns in the macro environment.
Ireland as a Location for Crypto-Asset Service Providers 2025

1 month ago | lexology.com | Josh Hogan |Darragh Peter Murphy |Clare Gillett |James FitzGerald |James Fitzgerald |Holly Draper-Spillane | +1 more

Regulation (EU) 2023/1114 on Markets in Crypto-Assets (“MiCA”) was published in the Official Journal of the European Union in June 2023. It became applicable to issuers of asset referenced tokens and electronic money tokens in June 2024 and came fully into force for providers of crypto asset services on 30 December 2024. MiCA brings crypto assets under a pan-EU regulatory framework that seeks to ensure increased transparency, investor protection and financial stability.
Ireland as a Location for Electronic Money Institutions 2025

1 month ago | lexology.com | Josh Hogan |Darragh Peter Murphy |Clare Gillett |James FitzGerald |James Fitzgerald |Holly Draper-Spillane | +1 more

Ireland is home to a substantial number of e-money institutions (sometimes called EMIs), some home grown, and others drawn to Ireland by its active and thriving FinTech sector.
Anti-money Laundering Under The Gambling Regulation Act 2024

Nov 13, 2024 | mondaq.com | Josh Hogan |Alan Heuston |Martin O'Neill |Holly Draper-Spillane

The Gambling Regulation Act 2024 is the most significant reform of gambling legislation in Ireland since the formation of the State. For an overall summary and discussion of the key aspects of the Act, please see our earlier briefing (here). In this briefing we focus on the important issue of the anti-money-laundering and combatting terrorist-financing ("AML") regime applicable to providers of gambling services ("providers").
Central Bank of Ireland Fitness & Probity Performance Report H1 2024

Oct 24, 2024 | lexology.com | Josh Hogan |Darragh Murphy |Clare Gillett |James FitzGerald |James Fitzgerald |Holly Draper-Spillane | +1 more

On 17 October 2024, the Central Bank of Ireland (“CBI”) published its fitness and probity (“F&P”) performance report for the first half of 2024 (“H1 2024”) (available here). The report provides information in relation to the processing of applications for pre-approval controlled functions (“PCFs”) during H1 2024. The report aims to help maintain transparency and clarity in the CBI’s assessment of PCF applications.
Money, Money, Money: Electronic Money Vs Electronic Money Tokens

Jun 11, 2024 | mondaq.com | Josh Hogan |Darragh Murphy |Clare Gillett |Holly Draper-Spillane

As the financial landscape continues to develop at pace and the way we do business changes, there has been increased focus on digital money and cryptocurrencies. Cryptocurrency is a digital form of an asset or a digital representation of value. As digital money comes in many different forms, it is important to understand the different forms, in particular the distinction between electronic money and electronic money tokens.
Levies for Regulated Entities in Ireland 2024

May 29, 2024 | lexology.com | Josh Hogan |Clare Gillett |Darragh Murphy |Holly Draper-Spillane |James FitzGerald |James Fitzgerald

For entities considering carrying out regulated activities in Ireland, it is important to be able to understand what costs you will face. This will enable you to effectively budget for future costs, thereby ensuring your long-term viability. In terms of regulatory costs or levies, regulated entities in Ireland face two such levies:Central Bank of Ireland Levy; andFinancial Services and Pensions Ombudsman Levy. Further details on these levies are set out below.
Ireland as a Location for Crowdfunding Service Providers 2024

May 28, 2024 | lexology.com | Josh Hogan |Holly Draper-Spillane |James FitzGerald |James Fitzgerald

Why Firms Choose to Become Authorised as a Crowdfunding Service Provider in Ireland:Ireland is home to a substantial number of financial services firms, some home grown and others drawn to Ireland by its active and thriving financial services sector.
Gambling Regulation Bill 2022: AML Update

Apr 13, 2023 | lexology.com | Alan Heuston |Josh Hogan |Martin O'Neill |Holly Draper-Spillane

IntroductionThe Gambling Regulation Bill is the most significant reform of gambling legislation in Ireland since the formation of the State. For an overall summary and discussion of the key aspects of the Bill, you can refer to our earlier briefing (here). In this briefing we focus on the important issue of the anti-money-laundering and combatting terrorist-financing (“AML”) regime applicable to providers of gambling services (“providers”).