Financial Services

Our Financial Services team engages with clients both on individual matters concerning regulatory, authorisation and compliance issues and on transaction-based matters, such as financing arrangements and acquiring transactions. As a result, we work closely with experienced lawyers and advisers from our Banking and Finance, Corporate, Litigation, Commercial Property, and Tax teams to provide clients with expert legal advice, and an integrated and seamless service.

We have navigated clients through the complexities of traditional and emerging financial services legislation. We have a deep understanding of the types of issues that will likely arise during an authorisation process (e.g. resources, outsourcing, risk function, compliance, internal audit) and guide clients on designing a framework that balances regulatory requirements with commercial objectives.  

With this blend of knowledge and experience, we are well placed to assist clients through the challenges of an authorisation process and through the regulatory compliance issues that arise afterwards.

Financial Regulation

Our Financial Services team advises a wide range of firms on regulatory applications and engagements with the Central Bank of Ireland, with particular knowledge and experience in advising on regulatory business issues in the areas of:

• Markets in Financial Services Directive (MiFID II)

• Payment Services Directive (PSD2) and Electronic Money Directive (EMD)

• Credit Servicing Firm and Retail Credit Firm rules

• The Virtual Asset Service Provider regime (VASP) and Markets in Crypto Assets Regulations (MiCAR)

• Consumer Protection Code

• Fitness and Probity regime, Individual Accountability Framework and the Senior Executive Accountability Regime (SEAR)

Investment Funds

Our Financial Services team advises on all aspects of asset management and investment funds, including the establishment, ongoing operations and supervision of investment funds in Ireland. We provide advice on a broad range of legal, regulatory and tax matters and advise on all types of regulated investment fund products (UCITS and AIFs) and structures (including ICAVs, investment limited partnerships and private limited partnership structures). 

Fund Service Providers

Our Financial Services team has considerable expertise in advising fund service providers on all types of commercial, regulatory and corporate matters. Our team provides expert, succinct, and business-focused advice to fund service providers, with the benefit of years of in-depth, practical, experience throughout the funds sector.

Our team has experience in dealing with authorisation applications, acquiring transactions, contentious and advisory issues which emerge for UCITS management companies, Alternative Investment Fund Managers (AIFMs), depositaries and custodians, fund administrators, investment managers, investment advisors, prime brokers, counterparties, external valuers, governance and board service providers, auditors and accountants.

Our Services

• Establishing new businesses authorised by the Central Bank of Ireland

• Acquiring transactions of regulated firms

• Formation of regulated and unregulated investment funds

• Structured finance transactions

• Representing clients in regulatory engagements with the Central Bank, including challenging regulatory change and representing clients in Central Bank inspections

• Boundary issues for firms that operate outside of the scope of financial services regulation and regulated activities

• Governance of regulated firms and management of conduct risk
  

Our Industry Focus

• Asset Management and Investment Funds

• Investment Firms

• Fund Service Providers

• Payments Institutions

• Retail Credit Firms and Credit Servicing Firms

• Crypto Asset Issuers and Crypto Asset Service Providers

• Insurance Undertakings