IRELAND: Central Bank Transparency Regulatory Framework – Q&A

Monday May 17 2021

The Central Bank has published a third edition of the Central Bank Transparency Regulatory Framework – Questions and Answers document.

The new QA added (ID 1006) reminds issuers of the Transparency Directive home Member State disclosure obligations where, in light of the UK’s withdrawal from the EU, an issuer is now disclosing its choice of a new home Member State.

Q: After the end of the UK’s transition period for leaving the EU (1 January 2021), under the Transparency Directive (TD), which obligations does an issuer which previously had the UK as its home Member State and is admitted to trading on one or more regulated markets in EU27 / EEA EFTA have in relation to disclosing its choice of a new home Member State?

A: After the end of the UK’s transition period for leaving the EU, an issuer which previously had the UK as its TD home Member State and is admitted to trading on one or several regulated markets in EU27 / EEA EFTA must determine its TD home Member State according to the rules laid down in Article 2(1)(i) of the TD. The issuer is required to disclose its new home Member State in accordance with TD Articles 20 and 211 and additionally to disclose its home Member State to:

• the competent authority of the Member State where it has its registered office, where applicable;
• the competent authority of the home Member State; and
• the competent authorities of all host Member States.

Notifications of home Member State to the Central Bank should be made using the Standard Form for Disclosure of Home Member State published on ESMA’s website. Submission instructions are available on the Central Bank’s website.

Click on the link for further information.