The Minister for Finance has signed the legislation that will (almost fully) transpose the IFD and IFR into Irish law. These regulations came into effect on the day of their signing by the Minister, which was 21 September 2021.
In other IFD/IFR news, the European Commission has adopted a Delegated Regulation supplementing the IFR with regulatory technical standards (RTS) specifying the methods for measuring the K-factors referred to in Article 15 of the IFR. For more information on K-factors, read our update: IFR/IFD: K-factors - what are they?
For further information on IFD/IFR, read our recent briefings: Investment Firms Update: New prudential regime applies to MiFID investment firms across the EU and and Investment Firms Update: Variable Remuneration under IFD/IFR for 'Class 2' firms.
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.