An important milestone was reached in the European Parliament regarding improved investor protection - the long awaited Packaged Retail and Insurance based Investment Products (PRIIPs) Regulation will become applicable in all member states from Q2 2016 and is complementary to the MiFID and IMD regulations on distribution. Further information can be found on page 3 and 4. In Ireland, the Central Bank published the 9th edition of the AIFMD Q&A and updated its Prospectus Handbook. Furthermore, the Central Bank has encouraged MiFID investment firms to read the current version of its Implementation Notice on Competent Authority Discretions and Options in CRD IV and CRR (the “Notice”), which outlines the Central Bank's policies on discretions of specific relevance to MiFID firms and provides information on the impact of certain provisions of CRR and CRD IV on MiFID firms. Switzerland reports on a petition filed with the Swiss Parliament that seeks to further tighten the rules of the acquisition of real estate for foreign investors. What would be its impact on the Swiss real estate market? Finally, in mid-April, a revised EU taxation of savings income directive was published in the official journal in the European Union. You will find more information on page 9.