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The Irish insurance business has recently experienced Brexit-related developments. EU-UK Trade and Cooperation Agreement and the (Re)insurance Sector  The signing of the EU-UK Trade and Cooperation Agreement (TCA) on 30 December 2020 gives greater clarity on the new relationship between the UK and the EU27 Member States, including Ireland. The TCA means that there is now certainty on trading arrangements across a range of sectors. However, it does not contain much of significance for (re)insurance or financial services generally.  The statements in the TCA about a framework for regulatory c...

To print this article, all you need is to be registered or login on Mondaq.com. This article explains how work and travel between the UK and Ireland will be affected by Brexit from 1 January 2021. 1. GUIDANCE 1.1 Has any guidance been issued on how UK nationals can obtain settled residence status and permission to work from 1 January 2021 and what proof of residence is needed for current residents to maintain their status? Yes. The Irish Department of Foreign Affairs has issued guidance on Preparing for Brexit, which includes information on the Common Travel Area that ...

Central Bank urges businesses to contact UK banks over Brexit Regulator says financial services providers must have all relevant documentation Fri, Jan 1, 2021, 10:52   Businesses that use services of UK-based financial services providers are advised to contact them to confirm whether they have obtained all necessary authorisations to allow them to continue to provide services to Irish customers following Brexit, the Central Bank has said. In a statement on Friday, the regulator pointed out that, as of midnight, the Brexit transition period between the United Kingdom and the European Union ...

Surveys and Reports Regulatory Developments United Kingdom: HM Treasury consultation on new special administration regime for payment institutions and electronic money institutions On 3 December 2020 HM Treasury (HMT) issued a consultation on proposed insolvency changes for payment institutions (PIs) and electronic money institutions (EMIs), including a bespoke special administration regime (SAR). HMT notes the shortcomings of the current insolvency regime and is making these proposals ahead of the conclusion of the Payments Landscape Review to protect consumers in the event of the insolvency...