- The Brexit endgame approaches: the implications of "Equivalence" deal between EU27 and UK for Ireland's Financial Services industry
Finance Dublin's take on the draft Brexit deal (Published here: Nov 16th 2018):
With Theresa May's Brexit deal between EU27 and London published, we can now get a clearer view of the possible outcomes set to define the future relationship between Ireland and the UK as financial centres. Given that those outcomes still include the chaos of a hard Brexit crash out of the EU, or a new vote to 'Remain', we would incline mostly towards the view that Mrs May's preferred option (analysed here) will be the basis of the future relationship between UK, these islands and Europe. This provides the clearest glimpse yet of the future for Ireland's IFS industry in its European context. (The 'Equivalence' breakthrough was foreshadowed in our November issue cover story (Opposite) entitled "London's position reasserted for now")
- The November issue of Finance Dublin
In this issue: The future of aircraft leasing in ireland, as tax uncertainties cloud the prospect, the industry's fundamental strengths in Ireland remain robust; US Financial Services Regulation - the Republican administration's agenda, as the Mid Term elections produce 'a qualified win' for both sides of the House; The EU's Digital Tax - Ireland and the 'Hanseatic League's
opposition to it; Investment Funds: the Government and CBI's track record held to account at FCSDublin, 2018, and much more.
- Dombrovskis’ softer stance on clearing sets pragmatic marker for shape of post Brexit deal for London as investment banking centre
The commitment by European Commission vice-president Valdis Dombrovskis that European traders will be able to use crucial UK derivatives clearing services, at least temporarily, even if Britain fails to secure an exit deal, represents an important shift in the EU's up to now hard-line position on financial services. It has even given participants in the European FS industry cause to speculate on whether it could be the harbinger of quasi-equivalence in other important areas, such as passporting or delegation.
- A new dawn in US financial services regulation: Dan Gallagher on regulatory realities on both sides of the Atlantic
Former Commissioner of the US Securities & Exchange Commission Dan Gallagher delivered a keynote address at the Financial Centres Summit, Dublin, 2018 in Dublin Castle in which he congratulated Ireland on its response to the global financial crisis. He also spoke of the dawning of a new era is US financial markets oversight and the achievements of the SEC and other regulators under new leadership.
- Ireland’s aircraft leasing sector shapes up for the next phase of the global aviation cycle
A continuing wave of international changes in taxation and substance requirements means that the way things have been done in the past is not necessarily the way they can be done in the future, speakers said at the Aviation Finance Conference 2018, at Dublin Castle. In a scene setting discussion of the agenda for 2019, Ireland's aircraft industry leaders displayed a commanding grasp of the outlook, but were cognisant of the threats to the sector's prosperity.
- The October issue of Finance Dublin
Financial Related Professional Services and Internationally Traded Legal Services in Ireland - a Special Cover Feature in this issue, in which prominent lawyers (including the Chief Justice of Ireland) spell out their assessment of the opportunities for Ireland as a global common law commercial law centre.
A Day in the Life: Funds Industry Lawyer; Also, Captive Insurance 'Gold Plating' & Ireland; Non Performing Loans and Unintended Consequences in EU provisions; Budget 2019 & the Finance Bill; Aviation Finance- CDB Aviation's new global HQ in Dublin.
- The scope for Ireland to provide a common law option in finance and Internationally Traded Legal Services
Address at the Financial Centres Summit, Dublin, 2018, October 2nd, by the Chief Justice of Ireland Mr Justice Frank Clarke.
- A Day in the Life: A funds industry lawyer
Sarah Maguire is a partner in the investment funds department in Walkers where she balances being a parent of two young children and her busy work day thanks to Walkers' focus on 'agile and flexible working'. Her work day is spent advising clients on post-Brexit distribution issues, fund launches and restructurings, applications to the Central Bank and learning about baseball.
- Brian Hayes MEP to retire from politics to take up new role as CEO of the Banking & Payments Federation of Ireland
Tuesday 6th November 2018: Brian Hayes MEP announced today that he will not be contesting next year's European Parliament elections at the end of his mandate as Dublin MEP in the parliament, and will be taking up a new role with BFPI as "central to Ireland's continued economic recovery must be a healthy, sustainable and customer focused banking sector". The current Vice President of the Economic and Monetary Affairs Committee of the European Parliament said: "I am looking forward to working with the BPFI team and the Financial Services industry as a whole, to help reposition the sector as a crucial driver for real investment and growth in Ireland's future".
- Over 300 delegates and over sixty speakers attended The Financial Centres Summit, Dublin, 2018 #FCSDublin on October 2nd and 3rd
Thank you to everyone who attended and who has made the Summit an exciting and transformative event.
We look forward to seeing you next year - October 15th and 16th 2019 at Dublin Castle. See FCSDublin, 2018 in photos here:
- Book Review: A poet’s view of the world of economics and economists, Micheal O’Siadhail’s Dante-esque exploration of modern times
Professor Antoin Murphy, leading Irish monetary economist and historian of economic thought, writes on Friedman, Schumpeter, and their relationship to modern financial innovation 10 years after the fall of Lehmans, in his review of poet Micheal O'Siadhail's 357p Dante-esque work, The Five Quintets, published in Dublin on October 4th.
- 'Ireland as a Common Law Port' - after Brexit - highlighted by Chief Justice Clarke in New York speech
The potential for Ireland to become a leading centre for international insolvency, dispute resolution and financial related legal services within Europe - a significant theme in the forthcoming Financial Centres Summit - has been underscored by the Chief Justice of Ireland, Frank Clarke
- Delegate Guide for full day Investment Funds programme at #FCSDublin, 2018
The final agenda for the FCS Dublin Summit in Dublin Castle on Oct 2-3 highlights the very interesting and engaging investment funds content and speakers that we have lined up through the programme for the Plenary Session of our annual conference FCSDublin, 2018, on October 2-3rd.
- The September issue of Finance Dublin
Corporate Banking in Ireland in 2018 - a Special Report in this issue. Preview of FCSDublin 2018 - Financial Centres Summit to host key discussions affecting Irish IFS ahead of Brexit; Budget 2019 Comment: Irish personal taxpayers are still paying for the GFC, with a tax burden that is higher than it was 10 years ago;
Also: Book Review Antoin Murphy on poet Micheal O'Siadhail's 357 page excursion into economics and finance; Investment Funds developments, including Equilend MTF a jv including State Street, JP Morgan, Northern Trust and Blackrock as owners; and the CBI's 'sandbox' - its fintech Innovation Hub.
- ETFs special in Finance Dublin
25 years of global ETFs: The $5.2 trillion global ETF industry is the subject of our Cover Special Report in this issue where we look at the combination of factors that have driven their growth, assess their prospects for continued delivery in the 2020s and look at the latest global developments and Ireland's leading role in the European ETF market.
We comment on the Central Bank's new Innovation Hub that will focus on 'engagement, sharing and listening' and provide a direct contact point for new and incumbent firms on their fintech innovations.
Also: The EU's Digital Tax proposals and the spectre of multiple-taxation are analysed as is the conflict between the EU and the OECD on the future of international tax the Irish Tax Monitor, and the implications of the Coffey Report's recommendations for Ireland's FS industry; Dillon Eustace's Muireann Reedy analyses financial sanctions regimes and their extra-territorial reach; BPFI's Amy Walsh on the evolving landscape of banking recovery planning; Editorial: Mid Year Review for Ireland's financial services centre.