The Irish High Court (Court) has pierced the corporate veil in Powers v Greymountain Management Ltd [In Liquidation] & Ors [2022] IEHC 599, to hold passive resident directors and non-resident shadow directors personally liable for funds lost to investors as a result of fraud.

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 CRO have restored the status of the companies effected and have ceased the involuntary strike-off process, pending a full review.

The Data Protection Commission (“DPC”) recently published its 2022 annual report (the “Report”) covering its regulatory activities between 1 January 2022 and 31 December 2022.

On 20 February 2023, the Central Bank of Ireland (the “CBI”) issued a notice entitled: ‘Process clarifications for UCITS and AIFs pre-contractual documentation updates in relation to the Commission Delegated Regulation (EU) 2023/363’ (the “Notice”).

Read the Legislation and Regulation update in the Irish Agenda on Winter ready? New energy performance of buildings regulations. In July 2022, the European Union (Energy Performance of Buildings) Regulations 2022 (the 2022 Regulations) were published.

Read the Not for Profit in the Irish Agenda on the new rules for trustees to establish beneficial ownership register.

Read the Not for Profit in the Irish Agenda on the appointment of a charity regulator in Q1 2014.

Following on from the UK Supreme Court decision in Sequana (discussed here), the recent UK High Court (UKHC) decision in Hunt v Singh [2023] EWHC 1784 (Ch), further considered the duty of directors to take into account the interests of creditors in certain circumstances.