European Union: Financial Services

This monthly legal update from William Fry LLP examines significant regulatory and legislative developments across Ireland's financial, environmental, and infrastructure sectors. From proposed reforms to limited partnership regimes and new home support provider regulations, to the transposition of EU directives on distance marketing and capital requirements, these articles analyze how recent policy changes will impact businesses, financial institutions, and service providers operating in Ireland.

On 30 July 2026, the Central Bank of Ireland (Central Bank) published a feedback statement (Feedback Statement) and supplemental guidance relating to prohibition notices under the Fitness and Probity regime (Supplemental Guidance).

The Central Bank of Ireland has commissioned an independent review of its enforcement activities, led by former Revenue Commissioners Chair Josephine Feehily, following judicial criticism of its processes and significant structural changes in the financial system. The review will examine the effectiveness, efficiency, and transparency of enforcement operations, with recommendations due by January 2027 that could reshape regulatory practice for years to come.

Bienvenido a nuestro 'What not to miss' update, donde podrás encontrar las principales iniciativas, avances y propuestas en materia legal que no puedes dejar de tener en cuenta.

On 30 July 2026, Bill of Law n° 8814 (“Bill of Law”) was introduced to the Luxembourg Parliament with a view to amending the law of 12 July 2013 on alternative investment fund managers, as amended (“AIFM Law”).

Luxembourg is poised to introduce a statutory compartment regime for unregulated SCS and SCSp alternative investment funds (AIFs), decoupling this feature from product-law wrappers like RAIFs. The draft bill would enable managers to establish legally segregated pools within a single AIF structure, mirroring mechanics familiar from existing Luxembourg fund regimes while preserving flexibility in documentation and disclosure.

For further information, please liaise with your usual Maples Group Global Registration Services contact or the contributor.

Ireland's Department of Enterprise, Trade and Employment has launched a public consultation on modernising the limited partnership framework established under the Limited Partnerships Act 1907. The consultation seeks stakeholder input on three key reforms: increasing the cap on partner numbers, introducing a whitelist of permitted activities for limited partners, and allowing capital contribution withdrawals during the partnership's lifetime.

Professional services firms in the UK face critical decisions about private capital investment as firm size, generational shifts, and evolving governance requirements create new pressures and opportunities. This analysis examines how these three interconnected factors are influencing leadership attitudes and strategic choices around external investment in traditionally partnership-based businesses.