ESMA trends, risk and vulnerabilities report – September 2017

Below, is a link to the semi-annual report from ESMA

https://www.esma.europa.eu/document/report-trends-risks-and-vulnerabilities-no2-2017

This is an informative publication. In addition to the market analysis are ad-hoc articles (study about fees and returns, DLT,…) and an article re derivatives in EU with consolidated data from all the trade repositories.

 

 

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International Tax Update– Multilateral Instrument

On 7 June at the OECD in Paris, then Minister for Finance, Michael Noonan T.D. signed the Multilateral Instrument (“MLI”) on Ireland’s behalf, along with 67 other jurisdictions. The MLI provides a mechanism for countries to transpose Base Erosion and Profit Shifting (“BEPS”) recommendations into their existing bilateral tax treaties. What follows below is a brief summary of some of the main aspects of the MLI of relevance to corporate treasurers in Ireland and in particular Irish entities involved in ...

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The EU Anti-Tax Avoidance Directive – Impact on Corporate Treasury

On 21 June 2016 the EU’s ministers of Finance and Economic Affairs, the so-called ECOFIN Council, unanimously approved the Anti-Tax Avoidance Directive (“ATAD”). This measure was originally proposed in January 2016 as part of the wider Anti-Tax Avoidance Package and was amended a number of times since its initial release.

Click HERE for a brief overview of some of the key changes agreed for implementation as part of the ATAD and in particular their relevance for corporate treasurers.

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Tackling Tax Avoidance in the EU – Impact on Corporate Treasury

Many corporate treasurers are likely to have become more aware of the OECD’s Base Erosion and Profit Shifting (BEPS) project, given the worldwide publicity it has received and the focus it has placed on limiting tax benefits of intragroup financing arrangements as a source of aggressive tax planning.

Following on from the BEPS project, the European Commission released its own draft anti-avoidance tax package on 28 January 2016 which contains measures to prevent aggressive tax planning, boost tax transparency and create ...

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Results from Landmark IACT study of corporate treasury

The IACT conducted a landmark study of corporate treasury in Ireland. This study was the first of its kind and will provide IACT members with key information on the treasury profession in Ireland.

The results of the study were unveiled, analysed and discussed at the 2014 IACT annual conference.

Key areas which were examined in the study were;

-The background, experience and qualifications of today’s Irish treasury professionals
-The profile of Treasury within organisations
-Career opportunities
-Work & salary satisfaction
-The transferability of treasury ...

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SEPA Business Service Scheme Cessation

Some members will have been made aware by their banks that the SEPA Business Service scheme for Direct Debits will cease in Ireland from 1st February 2016. Over the last few months the IACT has been actively engaged in dialogue with a number of the main Irish clearing banks and also relevant industry bodies (such as IBEC and BFPI) to voice our members concerns over the potential impact the cessation of this scheme could have their businesses.

READ MORE>>>

 

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Important Message For All Members Using Derivatives – For Your Action

We have received the following statement EACT Statement on EBA Report on CVA of explanation and correspondence from the European Association of Corporate Treasurers (EACT) relating to a proposal by the European Banking Authority (EBA) to remove an exemption for corporates (NFCs) relating to hedging activity with banking counterparties.

To read more click HERE

In summary the upshot of this proposal by the EBA, if enacted, would be to increase the cost for NFCs of using OTC instruments for hedging purposes. The ...

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