I HAVE EXTENSIVE EXPERIENCE in advising FinTechs and financial institutions on the structuring of access to and the provisions of financial services (including payment services) and products over the internet.
Additionally I have advised extensively on Crowdfunding, MiFID II authorisation and compliance requirements, on Mortgage Credit, particularly the new Mortgage Credit Directive, the Payment Accounts Directive, Payment Services including PSD I and the already EU adopted PSD II Directive, Peer to Peer Lending, the authorisation requirements for Electronic Platforms for Credit Intermediation and on the EU Crowdfunding Regulation and MiFID II amendment expected to be adopted shortly .In particular I provide advice and drafting on:
- Advertising and promotion of financial services
- The laws, supervisory and other requirements applicable to the outsourcing by Credit Institutions, Insurers, Credit Unions, Payment Institutions and Investment Firms of particular services
- Establishment, authorisation, regulation and structuring of collective investment schemes (UCITS and Non UCITS)
- Authorisation and supervisory requirements for Payment Institutions, Retail Credit Providers, Electronic Money Providers and Electronic Money Services, Peer to Peer Lending and Crowdfunding
- Authorisation and ongoing supervisory requirements applicable to Credit Institutions, Insurers and Reinsurers, including passport rights in the light of Brexit
- Advising on the Basel III and non-Basel III EU requirements for Credit Institutions contained in Regulation (EU) 575/2013 on prudential requirements for credit institutions and investment firms (Capital Requirements Regulation), Commission Delegated Regulation (EU) 2015/61 and Directive 2013/36/EU on capital requirements, with the latter being principally implemented in Ireland through the European Union (Capital Requirements) Regulations 2014 (S.I. No. 158/2014) and the European Union (Capital Requirements) (No. 2) Regulations 2014 (S.I. No. 159/2014).
- Consumer Protection Act 2007, and the Consumer Protection Code 2012 as amended on many occasions and all Central Bank Codes including those on Mortgage Arrears
- Data Protection and Data Security compliance for regulated financial services providers under the General Data Protection Regulation (GDPR), the “Law Enforcement Directive” (Directive (EU) 2016/680) which has been transposed into Irish law by way of the Data Protection Act 2018 , the 2011 “ePrivacy Regulations” (S.I. No. 336 of 2011 – the European Communities (Electronic Communications Networks and Services) (Privacy And Electronic Communications) Regulations 2011), the Cybersecurity Directive ((EU) 2016/1148) (also known as the Network and Information Security Directive) and the Cyber Security Implementing Regulation (EU) 2018/151.
- Legal issues connected with electronic share settlement systems and access thereto
- The Market Abuse Regulation (Regulation (EU) No. 596/2014 on market abuse (Market Abuse Regulation), Commission Implementing Directive, (Commission Implementing Directive (EU) 2015/2392 of 17 December 2015 on Regulation (EU) No. 596/2014 as regards reporting to competent authorities of actual or potential infringements of that Regulation ) and the CSMA Directive (Directive 2014/57/EU on criminal sanctions for market abuse) (Market Abuse Directive);
- The Mortgage Credit Directive as implementing in Ireland by the European Union (Consumer Mortgage Credit Agreements) Regulations 2016
- Money Laundering – how to comply with the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 as amended Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (Fourth EU Anti-Money Laundering Directive) as implemented by the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018. The Fifth Money Laundering Directive (Directive (EU) 2018/843) has yet to be implemented in Irish law.
- The Payment Accounts Directive 2014/92 (PAD) interpretation and compliance
- The PSD II (Directive II (2015/2366) and PSD II Implementing Regulation 2018/389 (PSD II) as implemented (PSD2 Directive) by the European Union (Payment Services) Regulations 2018, their interpretation and compliance therewith
- Requirements in relation to recording and keeping records of communications
- Solvency II Directive 2009/138/EC on the taking-up and pursuit of the business of insurance and reinsurance (Solvency II Directive), as amended by amongst other amending Directives, by Directive 2013/58/EU and Directive 2014/51/EU, and transposed into Irish Law by the European Union (Insurance and Reinsurance) Regulations 2015 (S.I. 485 of 2015),
- Structuring and drafting outsourcing agreements for financial services and advising on any related laws and regulations which apply to such agreements including the protection of employees on the transfer of undertakings regulations
- Structuring of internet financial services offerings including all corporate approvals required, the structuring of the application forms, the terms and conditions and ensuring compliance with all applicable regulation and codes of practice.