Insights

This article is a continuation of a series from Grant Thornton Financial Services Advisory that focuses on key aspects of the Individual Accountability Framework (“IAF”). In this article, we discuss the recently released Regulatory Impact Analysis (“RIA”) conducted by the Department of Finance (the “Department”) on the IAF.

Final guidelines on common procedures and methodologies for the supervisory review and evaluation process for investment firms, along with final draft Regulatory Technical Standards on Pillar 2 add-ons for investment firms are published.

The Central Bank of Ireland has announced that the countercyclical capital buffer (CCyB) rate on Irish exposures is to be maintained at 0.5 per cent.

How Grant Thornton can help you to estimate scope emissions for companies that do not report these metrics and incorporate these into banks’ Climate & Risk Quantification framework.

The Central Bank of Ireland (CBI) has agreed a fast-track filing deadline of 1 December 2022 for Irish authorised UCITS and AIFs filing pre-contractual disclosure templates under A8 and A9 of the Sustainable Finance Disclosures Regulation (SFDR) which must be published by 1 January 2023.

The introduction of the Consumer Protection Act highlights the Central Bank’s continued focus on consumer protection, with the specific purpose of closing the consumer protection gap in respect of consumer-hire agreements, hire-purchase agreements, including personal contracts plans (PCPs), and other forms of indirect credit such as Buy Now, Pay Later.

Grant Thornton understands that the implementation of IAF will be a significant transformation project for all regulated firms in Ireland. Drawing on a wealth of experience garnered from the implementation of the equivalent frameworks in the UK, Australia and Singapore, we can ensure your organisation is set up for success throughout the various stages of compliance.

In December 2021, the European Commission (EC) published its proposal for Anti-Tax Avoidance Directive III (ATAD III) which aims to discourage the misuse of shell companies within the EU.

This correspondence, deemed a Level 1 Compliance Intervention, offers all eligible taxpayers the opportunity to self-review their tax returns for Period 1 (which ended on 31 December 2021 or 30 April 2022 where extension applied) and make an unprompted qualifying disclosure by 31 January 2023 in relation to any additional tax liabilities identified.

Julieanne Nolan, Director Financial Services Audit speaks with Brian Lehane, Managing Director Fund Recs and Patrick Horgan CEO and Co-Founder, Valid8Me on Technology Trends in the Asset Management industry.

The Financial Accounting and Advisory Services (FAAS) department is a specialist team who primarily service complex large scale and multinational companies, focusing on a centralised approach to delivery.

The European Commission recently published a proposal for a new EU Directive creating a debt-equity bias reduction allowance (‘DEBRA’) and further limitation of the deductibility of interest for corporate tax purposes. This initiative is part of the “EU strategy on business taxation”.