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Ireland European Union

Dechert LLP

Dechert Cyber Bits - Issue 61

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X Agrees to Stop Processing EU Data to Train its Grok AI - Ireland’s Data Protection Commission (“DPC”) recently filed an urgent High Court application against X (formerly Twitter) for using the personal data of European...more

DLA Piper

Ireland: Increased Regulatory Convergence of AI and Data Protection: X Suspends Training of AI Chatbot With EU User Data After...

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The Irish Data Protection Commission (DPC) has welcomed X’s agreement to suspend its processing of certain personal data for the purpose of training its AI chatbot tool, Grok. This comes after the DPC issued suspension...more

Dechert LLP

The Evolving Global Foreign Direct Investment and National Security Review Landscape - May 2024

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Key Takeaways - - As FDI regimes proliferate and mature around the globe, governments are taking an ever-more expansive view of the concept of “national security” to include more than military and defense interests, which...more

Walkers

Transposition of Credit Servicers Directive in Ireland – Overview

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On 29 December 2023, the Minister for Finance signed the European Union (Credit Servicers and Credit Purchasers) Regulations 2023 (the "Regulations") into law, thereby transposing the Directive on credit servicers and credit...more

American Conference Institute (ACI)

[Event] 5th Annual European Forum on Global FDI Reviews - June 11th - 12th, Ixelles, Belgium

Hosted by C5 Group, the 5th Annual European Forum on Global FDI Reviews returns for another exciting year with curated programming that provide sessions on the most pressing issues coming across your desk and strategic...more

Walkers

Revised Central Bank of Ireland’s Prospectus Regulatory Framework Q&A | Expansion of Euronext’s GEM to retail debt

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Revised Prospectus Regulatory Framework Q&A - On 7 March 2024, the Central Bank of Ireland (the "Central Bank") published its Prospectus Regulatory Framework – Questions & Answers 2nd Edition (the "Revised Q&A"). This...more

Walkers

Central Bank issues feedback statement on CP155 and final ELTIF chapter of AIF Rulebook

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On 11 March 2024, the Central Bank of Ireland (the "Central Bank") reached a significant milestone in finalising its framework for authorisations under the revised European Long-Term Investment Funds Regulation (EU) 2023/606...more

Walkers

Ireland | Chambers 2024 Global Practice Guide on Securitisation

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1. Specific Financial Asset Types - 1.1 Common Financial Assets - A wide range of asset classes have been securitised by Irish special purpose entities (SPEs): residential mortgages; commercial mortgages; auto loans;...more

Dechert LLP

Ireland to Finalise its European Long Term Investment Fund Regime

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In parallel with the well-publicised enhancements to the European Long Term Investment Fund ("ELTIF") regime through Regulation 2023/606/EU (the "ELTIF 2.0 Regulation"), the Central Bank of Ireland (the “Central Bank”) has...more

Walkers

Central Bank of Ireland imposes its first fine on an investment fund

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On 30 November 2023, the Central Bank of Ireland (the "Central Bank") published a public statement relating to an enforcement action against an Irish-authorised UCITS ICAV (the "ICAV") which has been reprimanded and fined...more

Jones Day

Ireland Introduces Foreign Investment Screening Regime

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The Development: The Screening of Third Country Transactions Act 2023 (the "STCT Act") was signed into law on October 31, 2023, introducing a new investment screening regime in the Republic of Ireland ("Ireland") with a...more

BakerHostetler

DSIR Deeper Dive: Absent Legislation, Privacy Regulators Offer Guidance on AI

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By now, many of us are using AI, advising others about how to use AI, and waiting for some legislative miracle to give us some guardrails for what we can or cannot be doing with AI. A lot of effort has been put into tracking...more

Dechert LLP

Holiday Pay – Mind the Gap

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In Chief Constable of the Police Service of Northern Ireland v Agnew, the Supreme Court (SC) has confirmed that workers who have been underpaid holiday pay over a period of time are not prevented from recovering underpayments...more

Walkers

Global Legal Insights Fintech 2023: Ireland

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Partners Niall Esler and Shane Martin, along with senior associate Conor Daly and trainee solicitor Coleen Wegmann, have authored the Ireland chapter for Global Legal Insights Fintech 2023. They provide an up-to-date summary...more

Walkers

Progress on implementation of the Irish ELTIF 2.0 offering

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Today sees a significant and very welcome announcement by Irish Funds in relation to the Irish implementation of the ELTIF 2.0 framework. Irish Funds has confirmed in a communication to member firms that following...more

Walkers

Examinership in Ireland: recent cases emphasise that a conditional rescue scheme Is not a bar to court approval

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Synopsis - Since its introduction in 1990, the Irish corporate res- cue scheme known as examinership has proven itself adept at evolving to the requirements of modern com- plex cross-border corporate restructurings. ...more

Littler

“Show Me the Money” – the EU Pay Transparency Directive Comes into Effect

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A new EU Directive on pay transparency came into force earlier this month. Member States have until June 7, 2026 to introduce new legislation to give effect to the Directive. European employers should take note as the...more

Fox Rothschild LLP

Ireland’s Data Protection Commission and Meta: What You Need to Know

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Ireland’s Data Protection Commission has fined Meta Ireland 1.2 billion EUR. While you have probably heard about that, there is much, much more to this case and the larger Schrems II cross border saga. Here is what you...more

Vinson & Elkins LLP

Mega Fine for Meta: $1.3 Billion Penalty Imposed for Data Privacy Violations

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The European Union’s (“EU”) Data Protection Commission (the “Commission”) recently fined Meta Ireland $1.3 billion (or €1.2 billion) for improper data transfers from the European Economic Area (“EEA”) to the United States in...more

Miller Nash LLP

This Is Not a Test: The Significant Impacts of the Ireland Data Protection Commission’s Meta Decision

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It shouldn’t come as a surprise that the European Data Protection Board (EDPB), through Ireland’s Data Protection Commission (DPC), issued another fine against a large US technology company. What may come as a surprise is the...more

K&L Gates LLP

Irish Supervisory Authority "Poking" at Meta's GDPR Practices

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Closing in on the fifth anniversary of the entry into force of the EU General Data Protection Regulation (GDPR), the Irish Data Protection Commission (DPC) announced on 22 May 2023 that it had fined the Irish subsidiary of...more

Fox Rothschild LLP

Ireland’s Data Protection Commission, Meta and Art 49 Derogations: An Overview

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Ireland’s Data Protection Commission has fined Meta €1.2 billion. What, however, did the commission say in the case about using Art 49 derogations for transfers to the U.S.? An overview: I will discuss the Meta decision...more

Clark Hill PLC

What the Irish DPC Meta Decision Means for International Data Transfers

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On May 22 the Irish Data Protection Commission (“DPC”), Ireland’s data privacy watchdog, issued its final and binding decision against Meta with respect to Facebook’s exporting of personal data from Europe to the US from July...more

Faegre Drinker Biddle & Reath LLP

Meta Fined EUR 1.2 Billion for Violating GDPR

On 22 May 2023, the Irish Data Protection Commission (DPC) issued Meta Platforms Ireland Limited (Meta Ireland) with a EUR 1.2 billion (approximately 1.3 billion U.S. dollar) fine for breaches of the GDPR with respect to...more

Faegre Drinker Biddle & Reath LLP

Diversity, Equity and Inclusion Developments in Irish Employment Law

For Irish lawmakers, commitment to promoting diversity, equity and inclusion (DEI) continues to be a top priority in 2023. Following the introduction of Ireland’s Gender Pay Gap Information Act (the Act) in 2021, employers...more

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