Five years ago, the crypto company had planned 50 jobs at its EU hub in Dublin. It has now shut down its Irish entities and is instead chasing a licence in Italy.
The European Securities and Markets Authority’s latest report on fund marketing materials notes how rules from country-to-country still differ, despite efforts for greater harmonisation.
The governor and senior officials were before the Oireachtas finance committee this week to provide details on how the bank came to transfer bond prospectus approval to Luxembourg. Members were again left frustrated and the public none the wiser.
Despite strong warnings from the Central Bank, the ESRI and the Fiscal Advisory Council, the government looks set to blow past its own spending rules. Colm McCarthy warns that Ireland risks repeating old mistakes.
The Currency can confirm that the transfer of responsibility to approve the Israeli bonds prospectus to Luxembourg this week applies only to the latest prospectus. The regulator still remains the home member state for the overall Israeli bonds issuance programme.
Activists pressured the Central Bank for months over its role in facilitating the sale of bonds, with extra heat coming from the Oireachtas, legal academics, and a potential court case. What were the key concerns?
The Social Democrats TD said last month that there were significant investor protection concerns with the regulator's approval of the bond prospectus in light of “the complicity of Israel in the genocide in Gaza”.
Coinbase and Gemini set up regulatory bases in Ireland for MiCA, the EU’s new crypto rulebook, but have since changed tack and moved elsewhere.
Non-bank lender Capitalflow is now approved by the Central Bank to be a retail credit firm. Its chief executive Ronan Horgan outlines how this happened – and what comes next.
The regulator is mandated to provide a high level of consumer and investor protection to those investing in securities markets. But is it doing this by continuing to approve the Israeli bond prospectus?
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