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16 Aug 2018
Corporate Liability & Penalties for Irish Companies Connected to Corrupt Individuals
The Criminal Justice (Corruption Offences) Act 2018 (the "Act") came into force on 30 July 2018. The Act consolidates Irish law on bribery and corruption and introduces tougher penalties and new offences such as corporate liability, meaning a company may now be guilty of an offence if anyone acting on its behalf is found guilty of corruption.
15 Aug 2018
The Credit Reporting Act 2013 establishes an official statutory register operated by the Central Bank of Ireland to record the amount of credit in the Irish economy. The Register will also enable creditors to check a potential borrower's credit status before advancing credit.
14 Aug 2018
A series of judgments handed down by the Court of Appeal on 30 July 2018 in linked litigation (Sheehan v Breccia/Flynn and Benray v Breccia) deals with important issues arising in loan default scenarios, particularly where the loan has been traded in the secondary market. The implications of these decisions require careful consideration in the context of broader finance and commercial arrangements under Irish law.
10 Aug 2018
The gender pay gap is intended to show the difference in the average pay between all men and women across a company's workforce in Ireland. It should not be confused with existing equal pay legislation which renders unlawful any pay differences between men and women who carry out the same jobs, similar jobs or work of equal value.
Recent figures published by the Central Statistics Office suggest the gender pay gap in Ireland is approximately 14% (in favour of men), compared to an EU average figure from 2014 of 16.7%.
31 Jul 2018
30 September 2018 is the date by which all existing "in-scope" Cayman Islands investment entities must have appointed AML Officers. As discussed in recent client updates, entities will be "in-scope" if they conduct "relevant financial business" in or from within the Cayman Islands. This will include all Cayman Islands investment entities, whether regulated or unregulated (including all hedge funds and private equity funds), structured finance vehicles and entities conducting securities investment business.