As regards regulatory news for the month, progress continues to be made towards the development of sustainability reporting standards. The IFRS Foundation announced that it would make use of the possibilities offered by its Constitution to enable the ISSB to publish its first two standards by the end of the year. EFRAG is continuing with its transformation, while the PTF-ESRS has shared four new working papers relating to the future European Sustainability Reporting Standards. Further working papers are to be released as soon as they are ready, with a public consultation to be launched at the end of April or beginning of May, once the official Exposure Drafts are available.
On April 5, 2024, Finance Minister Michael McGrath launched a Feedback Statement (FS) on the proposed implementation of a Participation Exemption for foreign dividends within the Irish tax system. The FS invites feedback from interested parties on a “Strawman Proposal” developed for the implementation of the Participation Exemption.
In 2022, the European Securities and Markets Authority (ESMA) published its new multi-annual strategy for 2023-2028. ESMA’s 2024 Annual Work Programme is structured around the implementation of the ESMA strategy, fulfilling ESMA mandates in the legislation and building on the activities executed in 2023.
The European Central Bank (ECB) Banking Supervision set out the activities it wishes to develop via its 2024-2026 strategy. 2024 is the first year of the three-year plan.
Independence and rigour that provides confidence and transparency for stakeholders and society.
Enhancing management oversight and strengthening stakeholder relationships.
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