Member News, News

New Corporate Governance Code for Irish Funds

On 14 December 2011, the Irish Funds Industry Association issued a Corporate Governance Code (the “Code”) for Irish Investment Funds and their Management Companies. It simultaneously issued a Frequently Asked Questions document (“FAQ”), to complement the Code and support its introduction. The introduction of the Code arises from an invitation from the Central Bank of Ireland (the “Central Bank”) to the funds industry in 2010 to develop such a code, as part of a process of introducing corporate governance codes...

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Member News, News

Irish Central Bank launches PRISM

The Central Bank of Ireland (the “Central Bank”) has launched a new Probability Risk and Impact System (“PRISM”). The aim of this risk-based supervision framework is to supervise all financial firms using an approach that would make it materially less likely that a firm would fail, and less likely the firm would fail in a manner which would endanger financial stability or consumers. In addition to being a framework for risk-management, PRISM is also a software application and has...

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Chapter News, News

RESIST anti-corruption tool launched

Paris, 12 December 2011 ICC has launched a German version of the training toolkit Resisting Extortion and Solicitation in International Transactions (RESIST), which provides practical guidance for company employees on how to prevent or respond to inappropriate demands. The German version of the toolkit was launched on 9 December by ICC Germany, the German Global Compact Network and Transparency International Germany on the occasion of World Anti-Corruption day.RESIST is aimed at companies operating internationally and exposed to solicitation risks. The training tool...

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Chapter News, News

EU Leaders Agree on New Treaty to Tackle Crisis

Following a two-day summit in Brussels focused on tackling the sovereign debtcrisis, European leaders agreed to draft a new treaty that will strengthen fiscal integration and enforce stricter financial discipline among European Union member states. "The 17 Member States of the Eurozone and already many others are committed to a new fiscal compact," said President of the European Council, Herman Van Rompuy. President Van Rompuy stressed that the major decisions taken at the summit will help "safeguard the Eurozone,...

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Chapter News

Transatlantic Economic Council Meeting: EU and US Boost Economic Partnership

11/30/11 The EU and the US today strengthened transatlantic economic ties through a number of new initiatives. At the Transatlantic Economic Council (TEC), senior EU and US leaders agreed to facilitate their customs procedures, to strengthen their cooperation on electric vehicle and smart grid research and in the fields of new technologies, such as cloud computing, and raw materials. Read more; EU-US Transatlantic Economic Council Joint Statement ; JRC Signs Letter of Intent with the US Department of Energy...

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Chapter News

Mr Theodoros Pangalos , The Greek Vice-President, comments on the Greek Crisis

Mr Theodoros Pangalos , Vice-President of the Greek government was the host of the EACC’s European American Press Club in Paris today. Speaking on the record, he mostly addressed the current “Greek crisis”. His key comments were : - Greece does not need fresh aid . It only needs the “troika” (EU,ECB,IMF) to implement the 07/21 accord. Greece will keep its word and do its bit provided the troika fulfills its financial...

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