Consumer Protection Code
The Central Bank has issued a new Consumer Protection Code, which will take effect on 24 March 2026, giving companies a year to implement the changes.
UK company data
The Financial Reporting Council (FRC) in the UK has made available a viewer to give free access to company filings and iXBRL data from UK companies.
UK company sizes
For financial years beginning on or after 6 April 2025, UK company size limits have increased. Read the legislation.
The new limits are below (old limits in brackets):
The professional services sector reported 13 merger notifications
A large company is defined as an entity that does not meet the criteria to be classed as a medium-sized or smaller company. The FRC has issued updated guidance for FRS 102 and FRS 105, along with additional guidance documents.
Irish mergers and acquisitions
The Competition and Consumer Protection Commission (CCPC) has published its Annual Mergers and Acquisitions Report 2024. Seventy-seven determinations were issued by the CCPC during the year.
The professional services sector (including legal, accountancy, consultancy, engineering and veterinary) was the most prominent sector, with 13 merger notifications made. Some of the companies in which determinations were made include household names like Dublin Airport Authority, Kilsaran, Coca-Cola and Lloyds Pharmacy.
Regulatory and supervisory outlook
The Central Bank of Ireland has published its 2025 Regulatory & Supervisory Outlook. The report notes that the current geopolitical situation is characterised by ongoing tensions, regional conflicts and global power shifts, but that the global financial system has remained resilient.
Revenue launched a new agent and adviser e-linking application
The report identified the bank’s supervisory priorities as being driven by the macroeconomic and geopolitical environment, how regulated entities are responding to the changing world, and longer term structural changes.
Agent and adviser e-linking
Revenue launched a new agent and adviser e-linking application, which went live at the end of March. This new process will enhance digital security by protecting both practitioners and their clients from identity theft.
The agent e-linking application will establish a digital approval system for Revenue customers who are registered for and active on Revenue’s online systems. When an agent submits an agent link request, the customer/taxpayer will be notified by email that they have received Revenue correspondence. The customer must login to ROS or myAccount to approve or reject the request.
Quarterly economic commentary
The Economic & Social Research Institute’s commentary notes that unemployment is at 3.9% and real income growth is set to exceed 3.5%.
Although the forecast was conducted on the assumption of no trade tariffs being imposed between the US and the EU, it does include adjustment for the general uncertainty caused by a changing US economic policy, which is likely to subdue global activity, lower investment and consumption. An alternative forecast based on 25% bilateral tariff regime would show growth of 2.8% in 2025 and 2.1% in 2026.
ACCA has a guide for firms considering changes to their capital or ownership structure
The report also discusses housing, including policy considerations regarding rent control measures and how, although rent pressure zones have been shown to dampen increases, they also affect mobility and new construction supply and maintenance.
A second consideration is in respect of the ‘funding gap’, the difference between the actual amount of credit required to fund the construction of the required number of housing units and the actual amount of credit in the financial system at a point in time. The report identifies that financing of an additional 20,000 housing units, which is the identified annual shortage, would require approximately €5bn in funding.
Charities SORP
A public consultation is open on a proposed update to the Charities SORP, which is likely to become compulsory in Ireland for charities with income over €250,000, once legislation is commenced.
Capital structures in audit firms
Regulators have at times expressed concern at some of the ownership arrangements for audit firms, particularly private equity and similar types of arrangements. The FRC has issued a letter setting out its approach to such structures, specifically the requirement in law for audit firms to be controlled by auditors and to be independent.
ACCA has issued a guide for firms considering changes to their capital or ownership structure to ensure that the firm remains compliant with the Companies Act.
Sanctions helpdesk
It can be difficult for SMPs to be absolutely sure that they have complied with all anti-money laundering sanctions. The Russian sanctions in particular are very broad and some of the language used in the regulations is difficult to interpret.
To assist, the EU has set up the EU Sanctions Helpdesk, offering personalised help to companies performing sanctions due diligence checks.
