Jack Stokes

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Articles

Update: Provisions Strengthening Irish Corporate Watchdog's Powers Commenced

Dec 11, 2024 | williamfry.com | Gail Nohilly |Jack Stokes |Ashley Hennessy |Paul Convery

Provisions strengthening the powers of Ireland’s corporate watchdog, the Corporate Enforcement Authority (CEA), contained in the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024 (2024 Act), came into operation on 3 December 2024. The 2024 Act amends the Companies Act 2014 (2014 Act), introducing changes to corporate governance, administration, enforcement and supervision, and corporate insolvency provisions.
New Companies Bill 2024 Aims to Strengthen Irish Corporate Watchdog's Powers

Sep 6, 2024 | williamfry.com | Jack Stokes |Ashely Hennessy |Paul Convery |Alexandra Drummy

The Companies (Corporate Governance, Enforcement and Regulatory Provisions) Bill 2024 (Bill) was published in July 2024 and is expected to be enacted before the end of 2024. The Bill seeks to bolster and enhance the powers of the Corporate Enforcement Authority (CEA) as part of continued efforts to assist Ireland’s corporate watchdog in carrying out its statutory functions.
Irish Court Awards €5,500 For Non-Material Damages Data Protection Claim

Aug 8, 2024 | mondaq.com | Jack Stokes |Gail Nohily |Paul Convery |Rachel Hayes

The plaintiff was on sick leave from his employment with the defendant in August 2022. On the last day of his sick leave, he was cutting overhanging branches at a relative's home. He noticed the defendant's operations manager recording him on his mobile phone (Recording). The plaintiff protested angrily to the Recording and claimed he was being wrongfully recorded out of work. The following day, the plaintiff was suspended from his job pending an investigation.
Irish Court Awards €5,500 for Non-Material Damages Data Protection Claim

Aug 6, 2024 | williamfry.com | Jack Stokes |Paul Convery |Rachel Hayes |Gail Nohily

McCabe v AA Ireland Ltd [2024] IECC 6The plaintiff was on sick leave from his employment with the defendant in August 2022. On the last day of his sick leave, he was cutting overhanging branches at a relative’s home. He noticed the defendant’s operations manager recording him on his mobile phone (Recording). The plaintiff protested angrily to the Recording and claimed he was being wrongfully recorded out of work.
Irish Court Awards €5,500 for Non-Material Damages Data Protection Claim

Aug 6, 2024 | lexology.com | Paul Convery |Rachel Hayes |Adele Hall |Jack Stokes |Gail Nohilly

McCabe v AA Ireland Ltd [2024] IECC 6The plaintiff was on sick leave from his employment with the defendant in August 2022. On the last day of his sick leave, he was cutting overhanging branches at a relative’s home. He noticed the defendant’s operations manager recording him on his mobile phone (Recording). The plaintiff protested angrily to the Recording and claimed he was being wrongfully recorded out of work. The following day, the plaintiff was suspended from his job pending an investigation.
CBI Publishes Notice Of Intention On Recognising Sustainability Knowledge In The MCC

Dec 19, 2023 | mondaq.com | Jack Stokes |Eoin Caulfield |Ian Murray |Catherine Carrigy

On 24 November 2023, the Central Bank of Ireland (CBI) published a notice of intention confirming that it intends to recognise sustainability knowledge and competence as part of the Minimum Competency Code 2017 (MCC), with effect from 1 January 2025. In summary, the CBI proposes to: Update the competencies for retail financial products under Appendix 3 of the MCC to include competencies relating to sustainability generally for all retail financial products (including insurance products).
CBI Publishes Notice of Intention on Recognising Sustainability Knowledge in the MCC

Dec 12, 2023 | williamfry.com | Jack Stokes |Eoin Caulfield

On 24 November 2023, the Central Bank of Ireland (CBI) published a notice of intention confirming that it intends to recognise sustainability knowledge and competence as part of the Minimum Competency Code 2017 (MCC), with effect from 1 January 2025. In summary, the CBI proposes to:Update the competencies for retail financial products under Appendix 3 of the MCC to include competencies relating to sustainability generally for all retail financial products (including insurance products).
EIOPA's Draft Opinion On The Supervision Of Captive (Re)Insurance Undertakings

Nov 9, 2023 | mondaq.com | Mike Frazer |Jack Stokes |Eoin Caulfield |Ian Murray

Addressed to National Competent Authorities (NCAs), the Draft Opinion's stated objective is to facilitate a risk-based, proportionate and convergent supervision of captive (re)insurance undertakings (Captives) within the EU which recognises the specificity of Captives' business models. 'Cash pooling' refers to an arrangement within a group designed to share liquidity among entities within that group, to optimise returns and achieve operational efficiencies.
An Analysis of EIOPA's Peer Review Report on Product Oversight and Governance

Nov 2, 2023 | williamfry.com | Jack Stokes |Eoin Caulfield

The European Insurance and Occupational Pensions Authority (EIOPA), with the support of National Competent Authorities (NCAs) in the EEA, recently conducted a peer review (Peer Review) on requirements for product oversight and governance (POG), introduced by the Insurance Distribution Directive (IDD). The Peer Review assessed the overall maturity of the supervisory framework on POG developed by NCAs to supervise the application of POG requirements by insurance manufacturers.