How to integrate social risk into ESG under new EBA Guidelines.
Central Bank of Ireland 2026 priorities on resilience, AI, fraud and consumer protection.
Grant Thornton Ireland appoints 12 new partners across audit, tax and advisory.
In March 2023, the Central Bank of Ireland (CBI) outlined their intention to undertake a review of consumer protection risks in insurance firms.
Counterparty credit risk was identified as a supervisory priority by the ECB for 2022 - 2024, as banks had been increasingly offering capital market services to riskier, leveraged and less transparent counterparties, in particular with non-bank financial institutions (NBFIs), at a time when the interest rate environment was low.
Over the past few weeks, the Irish Revenue Commissioners (‘Revenue’) has sent in excess of 20,000 letters to non-resident landlords (‘NRL’) and their collection agents, informing them of the upcoming changes to the administration of withholding tax for NRLs. In these letters, Revenue has also detailed the information that landlords will be required to provide to their tenants or collection agents.
In 2017, the Central Bank introduced client asset regulations into the investment firm space for the first time. Following an industry consultation last year, the Central Bank updated the existing client assets regulatory regime, resulting in increased requirements for MiFID firms as well as new requirements for credit institutions executing MiFID business (and only in relation to MiFID business).
During 2022, the Revenue Commissioners launched a share-based remuneration project. Revenue analysed employer annual share reporting forms (e.g. Form RSS1) against available data such as personal tax returns. They identified discrepancies such as employees under-declaring share option tax and underpaying Capital Gains Tax (CGT).
Findings from the CBI’s thematic assessment across a sample of MiFID firms, considering the approach taken by Boards and Senior Management, to foster and embed an effective conduct-focused culture.
According to the latest data from the International Business Report (IBR), Grant Thornton’s global survey of mid-market companies, business leaders are cautious about their future investment intentions.
DORA will have a significant effect on enhancing the operational resilience of digital systems. By soliciting public input through this consultation process, the European Supervisory Authorities aim to ensure that the resulting technical standards align with industry best practices promote digital resilience and facilitate a robust and secure digital environment across the EU.
Complaints and Remediation in Financial Services
Over the last few years of market shocks and geopolitical tensions, mid-market businesses have grown accustomed to bracing and planning for the unexpected.
The world around us is changing – changing at a pace that appears to be exponential at the very least. The inception of advanced AI learning systems such as Open AI’s ‘ChatGPT’ has allowed the technology to take centre stage on the world podium, and not entirely for the right reasons.
The European Commission has been revising the Securing Activity Framework of Enablers (SAFE) Directive, with intentions to implement the Directive in due course. The proposed policy carries a number of implications for tax intermediaries, which the Commission refers to as “enablers”.