Overview

Our Regulatory group in Ireland comprises of  leading lawyers and experienced industry professionals responsible for continuously monitoring regulatory developments and advising on the associated regulatory, risk and compliance issues and protocols. We work closely with our colleagues in other practice areas including tax, corporate, funds & investment management, dispute resolution & insolvency and employment.  

We provide practical and expert advice on the impact of developments at both Irish and European level and work closely with our global colleagues on regulatory matters in other jurisdictions. Our team has been carefully structured to advise clients across regulated sectors including investment firms, investment funds and management companies, fund service providers, payment institutions, insurance undertakings and credit institutions. We also advise businesses operating in unregulated sectors on a wide range of regulatory matters that can have an impact on their operations. 

We provide guidance on legal, technical, operational and regulatory matters in relation to all areas of financial services law and support clients in dealing with the Central Bank of Ireland ("Central Bank") in a constructive and pro-active manner.

Anti-Money Laundering & Counter-Terrorism Financing Compliance

We provide the following legal and advisory services with regard to anti-money laundering and counter-terrorism financing ("AML/CTF") compliance:

  • Drafting and maintaining AML/CTF policies for all types of entities
  • Development and assessment of AML/CTF systems and procedures
  • Preparation of documented business risk assessments
  • Advising on suspicious activity reporting and reliance on relevant third party obligations
  • Provision of training and assessment for directors, employees and MLROs
  • Beneficial Ownership Regulations advisory and compliance support
  • Advice on financial sanctions requirements.

Central Bank Engagement - Notifications and Reporting

  • The Central Bank requires regulated entities to file all regulatory returns, ad hoc and other, through its online reporting system ("ONR"). We assist clients through filing a number of these returns including annual KIID filings
  • In relation to changes of ownership of regulated entities, we advise on and manage the acquiring/disposal transaction notifications with the Central Bank.

Central Bank Engagement - Supervisory

  • Preparing clients for PRISM, thematic and general regulatory inspections through:
    • Advice on Central Bank areas of focus
    • Tailored onsite reviews
    • Advice on remedial measures required where deficiencies have been found
    • Drafting of necessary policies and procedures
    • Carrying out of ‘mock’ lightning inspections
    • Staff and director training.
  • Advising clients subject to thematic inspections or risk mitigation programmes issued by the Central Bank
  • Assisting clients in the context of regulatory investigations, enforcement proceedings and negotiating settlement agreements with the Central Bank. 

Cyber Security

  • Drafting and maintaining policies and procedures;
  • Co-ordination of annual cyber security confirmations from outsourcing service providers
  • Cloning response protocols
  • Advisory and compliance support
  • Rapid legal response to limit damage and recover proprietary or confidential data which is unlawfully processed, used or disclosed.
 

Data Protection

  • Drafting and maintaining data protection policies and privacy statements for all types of entities
  • Advising in relation to data subject access requests
  • Advising on GDPR compliant contractual clauses
  • Facilitating the reporting of data protection breaches to the Data Protection Commission
  • Rapid legal response where personal data is compromised to limit damage and recover any personal data
  • Advising on employee privacy
  • Providing GDPR training
  • Initial and annual due diligence of data processors
  • Supporting data controllers in addressing any data requests from data subjects
  • Assisting with compliance reporting and regulatory updates to boards of directors
  • Support for engagement with the Data Protection Commission.

EMIR & SFTR

  • Advisory and technical compliance support
  • Facilitating Central Bank compliance reporting
  • Operational support and reviews
  • Drafting and maintaining whistleblowing policies. 

ESG Investing - Ethical, Social & Governance

We are highly focused on the impact of ESG in the asset management sector as well as its wider commercial implications.  As a strong advocate for Ireland as a sustainable finance location, the Maples Group is a partner and supporter of Sustainable Nation Ireland, an Irish based lobbying group that promotes Ireland as a centre for excellence for sustainable finance and responsible investing. From a regulatory perspective, our ESG focus includes:

  • Advisory and technical compliance support on the EU Disclosure Regulation and supporting elements of the European Commission's Action Plan for Sustainable Finance
  • Policy and procedure enhancements for new ESG requirements.

Fitness & Probity Regime

We provide the following legal and advisory services with regard to the Irish fitness and probity regime:

  • Drafting and maintaining fitness and probity policies for all types of entities
  • Reviewing existing internal procedures to develop bespoke fitness and probity procedures
  • Advising on ongoing due diligence obligations
  • Creation of annual and quarterly checklists in order to demonstrate and document ongoing monitoring
  • Co-ordination of the annual fitness and probity confirmations together with any other ongoing due diligence requirements
  • Ongoing support and practical assistance in preparing and submitting individual questionnaires
  • Preparation of contracts and advice to support PCF recruitment and appointment
  • Advice and guidance in relation to CF and PCFs, including on selection, appointment, removal, dismissal, investigating fitness and probity matters, disciplinary issues and reporting requirements
  • Provision of fitness and probity training to boards and PCF/CF holders
  • Advisory and compliance support.

KIID & PRIIPS

We provide a full end-to-end service for KIID/ PRIIPs KID production, control, management and distribution encompassing a combined translations service with seamless integration with our Global Registration Services team. We also provide:

  • Facilitation of annual and ad hoc Central Bank filings
  • Advisory and compliance support.

Market Abuse

  • Advising on insider dealing and market abuse rules
  • Advising  on handling investigations and disciplinary processes related to breach of insider dealing and market abuse rules
  • Drafting and maintaining market abuse policies, to include insider lists and policies.

Other Key Areas of Law and Regulation

We provide advice and assist clients with their compliance requirements across a number of key focus areas such as:

  • Anti-bribery and corruption
  • Companies Act advisory support and compliance solutions
  • Gender Pay Gap reporting preparation
  • Diversity issues including equality and anti-harassment 
  • Shareholders Rights Directive II
  • Transparency Regulations
  • Outsourcing
  • Employee privacy
  • Protected disclosures
  • Employee investigations
  • Client assets
  • Prospectus requirements
  • Investor Money Regulations.

Policies & Procedures Framework

  • Mapping clients' legislative and regulatory policy obligations
  • Developing and maintaining a complete suite of policies and procedures for a range of regulated entities; reviewing the accuracy and suitability of the policies and procedures on an annual basis, in line with both business and regulatory developments
  • Reviewing and conducting a gap analysis of client policies, procedures and compliance frameworks, highlighting any areas of weakness in systems and controls
  • Advisory support and compliance solutions for CP86 and the Corporate Governance Code for investment funds. 

Senior Executive Accountability Regime

The Central Bank has indicated that it intends to introduce a Senior Executive Accountability Regime ("SEAR") which will apply to credit institutions, some insurance undertakings and investment firms. We can advise on preparations for the SEAR which is expected to emulate the UK SMCR including:

  • Reviewing the current Senior Executive Functions
  • Preparing for the imposition of Prescribed Responsibilities
  • Preparing Statements of Responsibility
  • Drawing up Responsibility Maps.

UCITS, AIFMD & MiFID

  • Advisory work on conduct of business rules and organisational requirements for ManCos and investment firms
  • Advisory work on regulatory capital requirements
  • Legal and project management assistance on authorisation requirements and extension of authorisations
  • Facilitating EU freedom of services and branch passports and tied agent appointments
  • Compliance support services for designated persons with responsibility for compliance, to include: board reporting; onsite review of delegates  and training
  • Support for ongoing engagement with the Central Bank. 

Locations

Dublin
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Please note that your email may be received and read by other Maples Group employees in addition to your intended recipient.

The use of this form does not create an attorney-client relationship and information submitted will not necessarily be treated as privileged or confidential, nor will it prevent us from accepting related instructions on behalf of others. Do not send us any information regarding any current or potential legal matters until your proposed engagement of us as legal counsel has been agreed and confirmed by us in writing.

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Announcements

Maples Group Recognised as Top Legal Adviser at Private Equity Awards

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Maples and Calder, the Maples Group's law firm, was honoured to have been recognised at the annual Asia Legal Awards and the long-running ALB China Law Awards last month, winning a combined six awards and sweeping the offshore category at both events.  This is the firm's third and seventh consecutive year winning "Offshore Law Firm of the Year" at the Asia Legal Awards and ALB China Law Awards respectively. 

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