| Industry wins concession in Finance Bill 2006 |
Issue: 02 / 2006 |
| The life assurance industry has won a concession in this year’s Finance Bill, following the introduction of deemed disposal rules to life assurance policies in last year’s Finance Bill. |
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| Life assurance reporting – the more the merrier? |
Issue: 02 / 2006 |
| The collapse of the Equitable Life in the UK, and the resulting Penrose Report, have resulted in the introduction of a new accounting stardard for life assurers – FRS 27. The overall impact of FRS 27 for Irish companies at first appears benign, writes Glenn Gillard, with little impact on reported profit. However, the disclosure detail required presents a far more significant challenge, he adds, which requires significant work by preparers of life assurance company financial statements to obtain and analyse information. |
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| Money market funds: most popular instrument for treasurers - survey |
Issue: 02 / 2006 |
| Three major cash management themes were identified in this year’s JPMorgan Asset Management’s Global Cash Management Survey - treasurers continue to demand high levels of security, the search for higher yields remains strong, and money market funds are increasingly seen as the most effective method for managing cash. |
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| Non-nationals play growing role in financial services |
Issue: 02 / 2006 |
| The financial and business services sector now has 21,500 non-national workers in it, according to a report from AIB Global Treasury Services, ‘Non-National Workers in the Irish Economy’. |
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| Pan-European Pensions- the fourth dimension |
Issue: 02 / 2006 |
| The recent transposition of the pan-European pensions directive, offers ‘tremendous opportunities’ both for Europe and for Ireland, with estimates from the European Federation for Retirement Provision suggesting that the Directive could lead to improved returns of some €10 billion. However, there are a number of hurdles to be overcome before a true pan-European pension can be created, writes John Feely, as the Directive does not deal with tax, employment law or social security issues. |
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| Platinum reaches record high as investors look for diversification |
Issue: 02 / 2006 |
| In January, platinum, the rarest of all precious metals, rose to a record high of $1085/ounce, as hedge funds and investors bought the metal used in jewellery and catalytic converters for cars to diversify their portfolios and seek high returns. With precious metals now being considered once more as an important asset to have in a properly diversified individual or institutional portfolio, due to their counter cyclical nature, Mark O’Byrne assess the outlook for platinum, and evaluates its performance compared with gold and silver. |
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| Regulator tries again with new directors’ regime |
Issue: 02 / 2006 |
| The Financial Regulator has launched a second consultation process on the introduction of a ‘Fitness & Probity’ regime for directors of financial services companies. This process is due to be completed by the end of April 2006, before the final regime is implemented in June 2006. |
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| REO has transacted the first CMBS deal in Ireland |
Issue: 02 / 2006 |
| The new year got off to a busy start for the teams in Treasury Holdings and Eurohypo, as they prepared for the launch of Ireland’s first-ever commercial property securitisation, announced on Monday, January 16th, 2006. Guy Leech, describes the process and the roadshow. |
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| Simplification |
Issue: 02 / 2006 |
| There are a number of areas where the tax code could be simplified so as to make it sensible and user-friendly for individuals and small companies. The cost of cutting away needless complexities would not be large in the context of overall tax revenues. |
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| Sweeney moves to BIAM |
Issue: 02 / 2006 |
| Mick Sweeney, the current chief executive of Bank of Ireland Global Markets, is to take up a new position of deputy chief executive of the bank’s Asset Management Division (AMS), and chief executive of Bank of Ireland Asset Management (BIAM). He replaces Kevin Dolan who is to become chief executive of the AMS division. |
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| The lights come on for MiFID – implementation process commences |
Issue: 02 / 2006 |
| The incoming regime for the Markets in Financial Instruments Directive (MiFID) has become noticeably more defined in recent weeks with the publication of the formal draft implementing measures on February 6th, writes Brian Binchy. |
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| The offshore dimension |
Issue: 02 / 2006 |
| Far away hills are green, and taxpayers structuring businesses or investments will sometimes ask “Would it help if I put it offshore?” Ireland’s tax code seeks to ensure that there are no significant tax advantages in placing wealth offshore. |
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| Tide has turned for commercial property market |
Issue: 02 / 2006 |
| Overall, Ireland’s commercial property market enjoyed a strong 2005, with retail again the top performer, over both the office and industrial markets, for the fifth consecutive year, writes Marian Finnegan. Looking to 2006, retail will continue to be a strong performer as the demand for opportunities will far out strip supply, while demand for industrial accommodation will be strong where covenant and lease terms are attractive and higher yields relative to other sectors are. The office market has had a tough few years, with the vacancy rate at around 17 per cent. However, Finnegan says that there are now some clear signs that the market is showing signs of recovery. |
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| UCITS or Non-UCITS? |
Issue: 02 / 2006 |
| An introduction to the various types of funds, both UCITS and non-UCITS authorised in Ireland. |
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| Using IP telephony to cut compliance costs |
Issue: 02 / 2006 |
| Legislators and regulators around the world have set exacting standards for the sale of financial products and services that can be difficult or costly to apply within traditional call centres. But, as Tom O’Neill explains, IP telephony is creating new opportunities to reduce the costs of achieving compliance. |
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