Overview
The firm has an extensive financial services practice, in corporate and consumer lending, litigation and regulatory compliance and has acted for a number of financial institutions in the city for many years . More recently the firm because of its extensive experience in communications has developed a strong expertise in advising financial institutions on the structuring of access to financial services ( including clearing systems ) and products over the internet.
The firm advises on collective investment schemes (both UCITS and non UCITS) and the ongoing supervisory requirements attaching to such schemes, consumer credit related issues, the structuring of offerings for, credit and debit cards, the distance selling of financial products in compliance with the directive on the distance marketing of consumer financial services directive, derivatives and hedging contracts and their regulation, the authorisation process for investment and insurance intermediaries, the ongoing supervisory requirements which apply to those firms, the provision of services and advice by those firms, the structuring of Internet related financial services offerings in country and cross border, both consumer and corporate related and legal issues connected with electronic share settlement systems and access thereto.
| ASP offerings | We advise financial institutions buying in an ASP offering or migrating an application to a supplier, particularly on structuring the contract and regulatory issues involved in allowing data or a process associated with the application to be outsourced and accessed over the internet. |
| Banking, Regulation & Compliance | Advising on the Central Bank Acts, the Consumer Credit Act, the Hire Purchase Acts, the Financial Transfers Act, the Factors Act, the Finance Acts that apply, the Forgery Act, the Insurance Acts, the Investment Intermediaries Act, the Official Secrets Act, the Netting of Financial Contracts Act, the Sale of Goods and Supply of Services Act. |
| Collateral Taking | We advise on the type of collateral required for an on-exchange or off -exchange derivative transactions and the structuring of the collateral in the context of the legislation implementing the Financial Collateral Directive. |
| Collective Investment Schemes | We advise on the establishment and structuring of collective investment schemes ( UCITS and Non UCITS and Hedge Funds), the authorisation process, the structuring of agreements with service providers and the existing and proposed regulations and codes of practice which apply to such schemes and the provision of services by those schemes and to those schemes. More details available from info@mckr.ie |
| Credit Card offerings | Structuring these offerings, including drafting application forms, data protection consents, the terms and conditions and ensuring compliance with all applicable laws, regulations and codes of practice |
| Derivatives | We advise on the regulatory rules which read on derivative and hedging contracts and associated collateral agreements, we review and advise on transaction confirmations, amendments to the schedule to ISDA master agreements, the structuring of netting provisions, the termination provisions and the structuring of any related collateral agreements in the context of a derivative or hedge transaction. More details available from info@mckr.ie. |
| Distance Marketing | Including distance marketing of financial services, regulatory restrictions on mass marketing (privacy and digital communications), where authorisation is required, pre contract requirements (including their application for successive operations), requirements in relation to voice communications, form of agreements, changing the means of distance communication, digital signatures, withdrawal rights (where they apply and might not apply), providing copies of documents electronically. |
| eBusiness | Drafting terms of trade, including auction terms where they apply, regulatory compliance, intellectual property and confidential information protection, security issues and their application, identification and authentification and the directive on electronic signatures, limiting liability, defining each party's responsibilities. |
| Electronic Money | The regulations that apply and authorisation requirements, who can issue e-money, the provision of related financial and non financial services, discount issues, the extent of passport rights. Provisions in relation to small e-money issuers. |
| Email and Internet Policies | Providing advice on their drafting, including how they should relate to employment policies and contracts. |
| Insurance and Intermediaries | The firm has over half a centuryâs experience in dealing with insurance work and insurance related claims. We have advised Insurance Companies on the redrafting of sections of policies, the interpretation of policies and on legal issues arising from claims made on foot of policies. We have advised insurers on their legal position with regard to claims made in the areas of professional indemnity, permanent health policies, life policies, occupiers liability policies, employers liability policies and public liability policies. We have represented the interest of Insurance Companies and claims arising under all of the above headings and in addition personal injury claims arising from road traffic accidents. We have defended Court and Arbitration proceedings on the issue of policy interpretations. We advise on the authorisation requirements for Intermediaries and their regulation, including the impact of the Insurance Mediation Directive, the structuring of agreements with principals, the impact of the fifth Motor Insurance Directive and monitor proposals for regulation of reinsurance. |
| Internet Banking | The structuring of internet offerings including all corporate approvals required , the structuring of the application forms, the terms and conditions and ensuring compliance with all applicable regulation and codes of practice. |
| Investment Services | We advise on the authorisation requirements for the provision of investment business services and the provision of investment advice, compliance with the ongoing statutory requirements, the handbooks and codes of practice which apply to the acquisition of services or the provision of services and the impact of measures the subject of the EU Commission's Financial Services Action Plan 1999 (endorsed by Heads of State and Government at the Lisbon European Council in March 2000) on the sector. More details available from info@mckr.ie |
| Money Laundering | Advising on the Criminal Justice Act as amended, the Money Laundering Guidelines and the Financial Action Task Force Recommendations on Money Laundering. |
| Online Gaming | The application of the current rules to gaming, betting and lotteries. Proposals for change and their impact on the provision of online gaming services. |
| Payment Systems | Future proposals for developing and regulating payment systems, what these are and how they may impact financial services offerings. |
| Software Analysis Tools and software | Regulation applicable to financial analysis tools and software used in the sector. |
| Web Sites | Web site development agreements, including their drafting, legal compliance by the web site with any regulatory requirements that apply in relation to the products being advertised or sold, drafting terms and conditions for web sites use, drafting privacy policy in compliance with data protection and privacy and electronic communications legislation. Advice on illegal and harmful content and protection of minors and human dignity. |
In addition to the above we advise on:
Contacts
| Patrick D. Rowan (Partner) | Profile |
| Paul Foley (Partner) | Profile |
| Andrew Clarke (Partner) | Profile |
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