We have extensive industry experience in relation to the area of financial services particularly in relation to the regulation of core areas. Our financial services experience is focused on the following sectors:
- Investment Firms particularly in relation to stockbroking and the rules under the Markets in Financial Instruments Directive (MiFID);
- Asset Finance Firms and the regulatory regime under Part V of the Central Bank Act 1997;
- Payment Services Firms and the legal framework instituted by the Payment Services Directive and implementing regulations in Ireland;
- Multi-agency Intermediaries and the law applicable under the Investment Intermediaries Act 1995.
We have extensive experience in dealing with each of the above regulated areas and in particular dealing with some of the following issues:
- Complete review of the regulatory regime for each of the above areas dealing with detailed legislative requirements and associated directives and statutory instruments;
- Applications to the Central Bank for authorisation of a payment services institution under the payment services directive;
- Applications to the Central Bank for authorisation of an asset finance business as a retail credit firm;
- Detailed advices in relation to compliance regimes in respect of financial services industries including preparation of associated rule books, guidance on each of the prudential requirements handbooks relating to specific industries, liaising with the Central Bank and dealing with Central Bank enquiries and information requests;
- Advice and assistance on the fitness and probity regime including completing individual questionnaires (IQs) and advice on the application of individual questionnaires to specific individuals and sectors;
- Drafting of a wide range of policies to assist in compliance regimes including anti-money laundering and terrorist financing, conflict of interest, record keeping, safeguarding of funds and general advices in relation to ongoing implementation of compliance policies and procedures;
- Advices relating to the interaction of technology law and the financial services particularly in relation to online delivery of financial services and issues such as the meaning of “durable medium”, rules relating to distance selling and other similar concepts within the financial services regime;
- Drafting Terms of Business in relation to investment services, asset finance, payment services and other financial services regimes and general contractual advice in relation to service delivery.
For more information please contact Colm Kelly