Banking Advisory
Matheson’s Financial Institutions Group has a full suite of expertise to advise on all banking-regulatory matters, providing commercially-focused, practical legal advice.
Against a backdrop of a very dynamic landscape and a fragmented global economy over the last 20 years, credit institutions have had to engage with extensive prudential requirements, systemic risk control mechanics and accountability regimes in respect of conduct. Matheson’s Financial Institutions Group have advised this globally-oriented sector through complex regulatory change as well as multi-jurisdictional corporate transactions and reorganisations.
Our partners advise all Irish authorised banks currently designated as Significant Institutions under the EU’s SSM Framework, internationally facing banks located in Ireland, fintechs, as well as e-money and payment firms. The group’s experience spans the full regulatory lifecycle, and all interactions with Central Bank of Ireland and the European Central Bank. We present a comprehensive suite regulatory advices reflective of operational design, governance requirements, outsourcing frameworks, and consumer-facing documentation – all tailored to reflect the commercial objectives of our clients and the expectations of regulators.
Our current engagements comprise:
- authorisations for which leveraging our deep knowledge of the expectations of the Central Bank of Ireland and the European Central Bank, with whom we have routine contact which enables us to practically support clients through the licensing process.
- provision of advices on banking regulatory matters including capital and liquidity requirements, recovery and resolution planning, governance, remuneration, board dynamics, jurisdictional analyses, conduct and accountability regimes.
- AML/CFT and financial sanctions across the banking sector.
- operational compliance matters, supporting institutions in demonstrating legal compliance of internal processes and controls. We were the first Irish firm to integrate such advice into our legal offering.
- managing the transition to CRR III and CRD VI.
Experience Highlights
Our team has recently advised:
- international banking groups in relation to their Brexit planning, including carrying out detailed analysis on matters pertaining to characteristic performance and reverse solicitation of Irish-resident clients.
- on the drafting of multiple CET1 and T2 instruments for banking clients.
- on the assessment of a leading bank’s consumer and SME lending documentation for compliance with Irish law and regulation.
- multiple banks on the application of credit risk mitigation rules and provided opinions on compliance with relevant provision of CRR.
- numerous banks on their correspondence with Central Bank of Ireland on a range of matters including Brexit preparedness.
- multiple banking and non-bank-lender clients on the application of the Credit Reporting Act to entities within their corporate groups.
- a banking client on the drafting of an EBA Q & A on narrow piece of CRR interpretation relating to hedging activities.
- a leading international bank on LCR management in relation to various liability types.
- multiple banks on the application of remuneration rules including in respect of the adoption of a proportionality approach.
- numerous banks on internal MREL instruments and assessed other issues relating to recovery and resolution planning.
- multiple clients on the management of intra-group and third-party large exposure issues.
- a number of prospective senior managers and board members through pre-interview sessions for fitness and probity purposes.
- numerous banks on governance issues including in respect of board compositions, suitability assessments and the respective responsibilities of the board and nomination committees.
- international banking groups in relation to their Brexit planning, including carrying out detailed analysis on matters pertaining to characteristic performance and reverse solicitation of Irish-resident clients.
