Experience

Darragh specialises in advising on regulatory and commercial matters relevant to financial services businesses, including insurance undertakings, investment management operations, fund promoters, banking entities and payment service providers.

Darragh’s practice covers all aspects of carrying on regulated financial services and consumer credit related activities in Ireland whether in relation to the authorisation of entities in this sector, their ongoing business requirements (customer, counterparty and/or regulator facing) and/or problem resolution.

He advises extensively on the regulated activities of insurance and reinsurance undertakings and has worked on many significant transactions. He also helps banks and other financial institutions to deal with payment services and other FinTech matters, such as SEPA payment systems, credit cards, payment instruments and e-money.

Darragh actively participates in a number of industry bodies. In particular, he is a member of the IFSC Funds Legislative Sub-group and Chairman of Irish Fund’s Legal & Regulatory Working Group.

Key highlights include advising:

  • A number of MiFID firms, and credit institutions on dealing with Central Bank administrative sanctions procedures.
  • An Irish subsidiary of a global life assurance group on portfolio transfers, regulatory advice, group structuring issues and on-going business requirements relevant to this very large Irish business.
  • Major mobile phone operators as they extend their services into the provision of electronic money services.
  • MetLife over several years in effecting its hub and spoke regulatory commercial pan-European restructuring.
  • Numerous (hedge and other) funds, custodians and international prime brokers in connection with their Irish authorised funds activities.
  • On regulatory matters for AIB, Zurich/Eagle Star, M&G/Prudential, Metzler, Davy, Merrion Capital, MBNA and MetLife.
  • Regulated insurance entities in relation to the creation (and classification) of instruments as for ancillary own funds purposes, as regulated insurers move to full compliance with Solvency II.