Competent authority meaning

In March 2018, Euronext acquired the Irish Stock Exchange plc, which then joined Euronext’s federal structure and now trades as Euronext Dublin, with Ireland recognised as one of Euronext’s six core countries. Euronext is the foremost pan-European marketplace in the Eurozone, operating across Belgium, France, Ireland, The Netherlands, Portugal and the UK. Its mission is to energise pan-European capital markets to fund the real economy, uniting buyers and sellers in venues that are transparent, efficient and dependable. What are the rules applicable to listing debt securities on Euronext Dublin? Euronext Dublin—EU Regulated Market The Central Bank of Ireland (CBI) is the competent authority responsible for reviewing and approving a prospectus (Prospectus) for the purposes of the Prospectus Regulation (EU) 2017/1129 (PR). The PR prescribes the relevant annex items to be included in a prospectus, depending on the issuer’s profile and the nature of the transaction. The European Union (Prospectus) Regulations 2019 (the Irish Regulations) took effect on 21 July 2019, replacing the prior Irish Prospectus (Directive 2003/71/EC)...

In this issue: UK, EU and international regulators and bodies Authorisation, approval and supervision Accountability, culture and social governance Prudential requirements Operational resilience Financial crime and sanctions Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of capital markets Regulation of derivatives Banks and mutuals Investment funds and asset management MiFID II Regulation of insurance Payment services and systems Fintech and cryptoassets Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts New and updated content Dates for your diary UK, EU and international regulators and bodies ESAs highlight role of behavioural insights in supervisory and policy work The three European Supervisory Authorities — the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA) — have issued a joint report arising from their February 2024 workshop on integrating...

EU financial services developments EBA updates its list of indicators for risk assessment and risk analysis tools The European Banking Authority (EBA) has released a refreshed catalogue of indicators used for risk assessment and risk analysis tools, together with an updated methodological handbook. In line with the EBA reporting framework version 4.1, the package spans a wide range of measures, including institutions’ profitability, solvency and operational risk. It also brings in new groups of risk indicators connected to the Markets in Crypto-Assets Regulation (MiCA), as well as to investment firms. While the revision does not add any reporting obligations for institutions or competent authorities, it is intended to set out more clearly how risk indicators are derived in EBA publications, helping users to read and compare essential banking figures in a consistent way when performing risk assessments and analyses...

Molecular Dynamics, Ltd v Spectrum Dynamics Med , 22 Civ 5167 (KPF) (S.D.N.Y. 23 July 2024) (‘Molecular v Spectrum’) What are the practical implications of this case? Molecular v Spectrum recognises that, under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the New York Convention), the courts of the place where an award is ‘made’—that is, the arbitral seat—hold primary jurisdiction and the exclusive authority to set aside, vacate, or modify an arbitral award pursuant to domestic law. Courts in all other Convention States possess only secondary jurisdiction and are confined to declining enforcement, and then only on the limited grounds listed in Article V of the New York Convention... Whether a court is competent under the New York Convention to entertain an application to set aside an arbitral award is a question that concerns that forum’s subject matter jurisdiction. A court exercising secondary jurisdiction therefore lacks subject matter jurisdiction over claims seeking to vacate, set aside, or modify a foreign arbitral award. The Court...

This Practice Note reviews the availability of interim and/or emergency measures within, and in aid of, arbitration proceedings under the law of the Kingdom of Saudi Arabia (KSA, Saudi or Saudi Arabia). The relevant legal framework Saudi Arbitration Law, promulgated by Royal Decree No. M/34 on 16 April 2012 (the Arbitration Law), based on the UNICTRAL Model Law on International Commercial Arbitration. The Arbitration Law applies to arbitrations seated in Saudi Arabia and, where the parties agree, to proceedings seated abroad as the governing law of the proceedings (Arbitration Law, Article 2) Implementing Regulations of the Arbitration Law, issued by Cabinet of Ministers’ decision number 541 on 22 May 2017 (the Implementing Regulations of the Arbitration Law) Enforcement Law, issued by Royal Decree No. M/53 dated 30 July 2012 (the Enforcement Law) Implementing Regulations of the Enforcement Law, issued by Cabinet of Ministers decision number 526 on 9 November 2017 (the Implementing Regulations of the Enforcement Law) Saudi accession to the New...

The Mauritian legal system Mauritius operates a mixed legal order, blending French civil law heritage with British common law traditions. It exhibits a dual structure: procedures in both criminal and civil proceedings are largely English in origin, while much of the substantive framework derives from the French Napoleonic Code. The jurisdiction therefore embodies both civil law and common law traits, reshaped to suit domestic requirements and yielding a distinctive body of Mauritian law. This duality appears in the separate regimes applicable to domestic and international arbitration. Rules for domestic arbitration are set out in the Civil Procedure Code 1808 (Code de Procédure Civile) (CPC), drawn from a French version, whereas international arbitration falls under the International Arbitration Act 2008 (IAA 2008), modelled on the UNCITRAL Model Law on International Commercial Arbitration (the Model Law). For further detail on arbitration in Mauritius, see Practice Notes: Arbitration in Mauritius and International arbitration in Mauritius. Notably, the International Arbitration Act 2008 (the IAA 2008) omits the enactment of articles 35 and 36...

L&D encompasses all learning opportunities across the organisation. It includes, though is not limited to: taking part in training courses completing online tutorials watching webinars on-the-job coaching mentoring reading researching Regulatory requirements SRA The Solicitors Regulation Authority (SRA) views learning as vital. Solicitors no longer have to tally continuing professional development (CPD) hours each year. Under the SRA’s competency regime, they must reflect on the quality of their practice, identify any learning and development needs, and then address them to ensure their knowledge and skills are current and they are competent to practise. For more information about the competence regime, see: Continuing competence—in-house lawyers—overview. Before the SRA competence statement, the SRA made no distinction between technical legal skills development and personal development. The competence statement addresses this, defining what solicitors must be able to do to deliver a proper standard of service and setting out core standards all solicitors and registered European lawyers (RELs) should undertake...

Definitions (General) Competent Authority • any body exercising jurisdiction over the Property, its occupation or its use; Restricted Period • any period [ exceeding [ number ] [ continuous ] weeks ] within the Term when a Pandemic Restriction is operative; Pandemic Restriction • any Legislation, or any requirement from, or guidance issued by, a Competent Authority that: (a) arises from [ COVID-19 or the occurrence of any other OR any ] national or local pandemic disease; and (b) prohibits, hinders or limits the Tenant from [ fully ] [ trading at the Property OR using [ more than [ number ]% (measured by floor area) of ] the Property for the Permitted Use ] . 1 Repair—suspension of Tenant’s repair obligation for pandemic reason The Tenant’s obligation to observe [ this clause OR clause [ number ] ] is suspended to such extent as the Landlord’s Surveyor deems fair...

Date [ date ] Parties [ name of Seller ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Seller) [ name of Buyer ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Buyer) 1 Definitions Within this Deed, the terms below have the following meanings: Apportioned Price • an amount derived using the formula: (A/B) x C Where: ‘A’ is the gross area in [ acres OR hectares ] of the property included in the Current Disposal ‘B’ is the gross area in [ acres OR hectares ] of the Property in its entirety ‘C’ is the Purchase Price; Base Value • (a) where the Current Disposal is solely Untriggered Property: i the Purchase...

Definitions (General) Competent Authority • any body with jurisdiction in respect of the Property, or its occupation or use; Restricted Period • any span [ exceeding [ number ] [ continuous ] weeks ] within the Term during which a Pandemic Restriction is in force; Pandemic Restriction • any Legislation, or any direction of, or guidance issued by, a Competent Authority which: (a) derives from [ COVID-19 or the occurrence of any other OR any ] national or local pandemic disease; and (b) bans, impedes or limits: (i) the Tenant from [ fully ] [ trading at the Property OR using [ more than [ number ]% (measured by floor area) of ] the Property for the Permitted Use ]; [ and OR or ] (ii) more than [ number ] per cent of the [ other OR following ] tenants in the Centre from trading [ , namely [ identify relevant tenants ] ] . 1 Qualification to keep open covenant...

Passporting provisions in the Prospectus Regulation Under the Prospectus Regulation, an issuer must publish a prospectus and have it approved by a competent authority when offering securities to the public in the EEA or when applying for admission of securities to a regulated market, where no relevant exemption applies. To streamline cross-border share offerings within the EEA, the EU prospectus regime provides passporting arrangements that permit companies to produce a single prospectus usable throughout the EEA, avoiding the preparation of multiple documents for separate jurisdictions. Articles 24 to 26 of the Prospectus Regulation (EU) 2017/1129 set out these passporting provisions, stating that a prospectus approved by the competent authority in one EEA state (the home member state) can be relied upon in another EEA state (the host member state) without requiring the prospectus to be approved again by the competent authority in the host member state. As a result, a UK issuer has been able to undertake a cross-border share offer across the EEA on the basis of...

Any qualifying tenant of a long leasehold flat may serve a notice requiring the landlord to grant a fresh lease adding 90 years to the existing term, with a peppercorn ground rent. The notice must be given to the appropriate competent landlord, ie the landlord with authority to confer the extended term. The notice is served pursuant to section 42 of the Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993) and must clearly set out the premium the tenant proposes to pay in order to obtain the lease extension by way of the new grant of the lease...