Pearse Trust Blog

Irish Corporate Entities – An Overview

Posted by Pearse Trust on Wednesday, Feb 10, 2016

In the modern business world, incorporating a company and the legal structure that an entity takes is a critical decision. When assessed correctly, the correct structure can provide substantial advantages for those undertaking commercial affairs. These advantages include limited liability, separate corporate personality, and possible advantageous taxation. With substantial advantages available, the new Companies Act 2014 provides for a number of distinct corporate entities.

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Tags: Ireland, Legal, Incorporation, Limited Companies

FTSE 350 Sees Decline in Corporate Governance Compliance

Posted by Pearse Trust on Monday, Feb 08, 2016

Full compliance in corporate governance for FTSE 350 companies has decreased from 61% to 57%, according to Grant Thornton’s Corporate Governance Review and Trends 2015 Report.

The 2015 figures also show a slight decrease in the number of FTSE 350 companies who complied with all but one or two of the UK Corporate Governance Code provisions; 90% compared to last year’s 93.5%.

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Tags: Legal, Corporate Governance, United Kingdom, Shareholders

Cybersecurity In The EU – An Overview Of The NIS Directive

Posted by Pearse Trust on Wednesday, Feb 03, 2016

A high level of network and information security across the EU is essential to ensure consumer confidence and to keep the online economy running. This, in turn, preserves the proper functioning of the internal market and encourages economic growth.

Unfortunately, information and computing systems (which enable essential services, businesses and the internet to function), are increasingly affected by adverse security incidents.  These incidents can arise as a result of technical failures, unintentional mistakes, natural disasters or indeed deliberate and malicious attacks.  These incidents can disrupt the supply of essential services. 

In 2013, the European Commission published a strategy outlining its plans to ensure a common level of network and information security across the European Union.  This strategy aims to reduce cybercrime and to improve network resilience.  As part of this strategy, the European Commission recommended the introduction of a Network and Information Services (NIS) Directive. 

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Tags: Legal, EU, Website

UK Small Business, Enterprise & Employment Act 2015 – Further Updates

Posted by Pearse Trust on Monday, Feb 01, 2016

In December 2015, the UK Department for Business Innovation & Skills (BIS) published draft statutory guidance for consultation on the meaning of ‘significant influence or control’. The purpose being to determine whether, in the context of companies, a person is a ‘person with significant control’ under the fourth or fifth specified conditions contained in the new Schedule 1A to the CA 2006. This blog is intended as a summary overview of the draft guidance and serves to update our previous blogs on the UK Small Business, Enterprise & Employment Act 2015.

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Tags: Legal, United Kingdom

Ireland's Companies Act 2014 & The Objects Clause

Posted by Pearse Trust on Monday, Jan 18, 2016

The Companies Act 2014 commenced in June 2015 with the aim of consolidating and simplifying company law in Ireland.  A major change in the law was the creation of a simplified private limited company without an objects clause. This blog examines the objects clause and the effect of Ireland's Companies Act 2014 on same. 

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Tags: Ireland, Legal, Corporate Governance, Limited Companies

Shareholder Agreements – What Are They?

Posted by Pearse Trust on Monday, Jan 11, 2016

As the name suggests, a shareholders’ agreement is one which is entered into between the shareholders of a company. It provides protection in the areas of ownership and sets out the procedures to be taken in relation to certain company related decisions. 

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Tags: Legal, Shareholders

7 Reasons To Set Up A Family Trust

Posted by Pearse Trust on Wednesday, Dec 09, 2015

What is a Family Trust?

A family trust is a trust established specifically for the benefit of members of a particular family.  The purpose of creating a family trust is to protect and manage family assets for current and / or future generations.

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Tags: Legal, Trusts

New EU Data Protection Regulation – An Overview

Posted by Pearse Trust on Wednesday, Dec 02, 2015

In January 2012, the European Commission proposed a comprehensive reform of data protection rules in the EU. The objective of this new set of rules is to return control of personal data to citizens, and to simplify the regulatory environment for businesses.

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Tags: Legal, EU

New Canadian Government - What's In Store For Taxpayers?

Posted by Pearse Trust on Monday, Nov 30, 2015

On 19 October 2015, Canada witnessed one of the largest reversals in political fortunes in recent electoral history when the Liberal Party, led by a youthful Justin Trudeau, bounced back from a dismal performance in the 2011 election to end the Prime Minister Stephen Harper's decade-long stint in power in emphatic fashion.

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Tags: Legal, Canada

Fourth EU Money Laundering Directive – An Overview

Posted by Pearse Trust on Wednesday, Nov 25, 2015

The Fourth EU Money Laundering Directive ("AMLD4") came into force on 26 June 2015.  It replaces the Third EU Money Laundering Directive and its purpose is to strengthen and improve existing anti-money laundering and counter-terrorist financing laws. It will also ensure consistency in the application of such laws across all EU Member States.   

The deadline for transposition of AMLD4 into national law is 26 June 2017.  

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Tags: Legal, EU, Anti-Money Laundering