Agenda Articles

While it may seem that we have been talking about the Digital Operational Resilience Act (DORA) since the beginning of time, DORA’s application date finally arrived on Friday, 17 January 2025.

In November 2024, The Central Bank of Ireland (Central Bank) published Guidance on its expectations for applicants seeking authorisation from the Central Bank to operate as a regulated firm (Cross Sectoral Guidance).

Provisions strengthening the powers of Ireland’s corporate watchdog, the Corporate Enforcement Authority (CEA), contained in the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024 (2024 Act), came into operation on 3 December 2024.

A recent High Court case has illustrated the powers the courts have under the Companies Acts to make directors personally responsible for the actions of a commercial organisation in failing to abide by a court order and the limits of that power.

DORA introduces various requirements for the management of ICT third-party risk and financial entities should start reviewing their contractual arrangements and documentation in preparation for its application.

The European Securities and Markets Authority (“ESMA”) has published its final guidelines on funds’ names using ESG or sustainability-related terms (the “Guidelines”).

The Government Legislation Programme for Spring 2024 includes a Companies (Corporate Governance, Enforcement and Regulatory Provisions) Bill that would be designed to enhance and strengthen enforcement and regulatory provisions in the Companies Act 2014 (the “2014 Act”).

For employers, an SAYE Scheme can encourage employee engagement and improve retention. While historically a very popular scheme, following Brexit the number of licensed savings carriers in the Irish market fell and the last licensed savings carrier exited the market in early 2021. Since then, it has not been possible to establish or grant new options under a SAYE Scheme. However, with the anticipated announcement of a new licensed savings carrier before the summer, employers should reconsider the benefits of offering a Revenue approved SAYE Scheme.

Under Article 82(1) the General Data Protection Regulation (“GDPR”) a person who suffers material or non-material damage because of an infringement of their data protection rights can seek compensation from the data controller or processor.