KEVIN LYNCH
Managing Partner Clerkin Lynch
‘Cyber attacks on law firms is a significant issue’
ACTIVITY The firm completed its highest number of commercial transactions to date in 2023/2024 and was very pleased to be involved in a number of cross-border transactions involving different jurisdictions. We are investing in financial services and the regulatory space more generally. This continues to be a growth area in Ireland, which has shown impressive resilience.
Furthermore, the level of regulatory obligations to which firms and individuals are now subject is increasing significantly in the wake of the Individual Accountability Framework and the Senior Executive Accountability Regime. We also see significant potential in the pending adoption of the Markets in Crypto Assets (MiCA) Regulation. We also expect investment and M&A activity in the technology- and digital-related sectors to increase in Q3 this year. We anticipate that the interest from North American investors in Irish companies will continue to increase.
OPERATIONS There are two significant issues facing most firms currently, which are the increase in cyber attacks on law firms and retention of staff. Both of these areas continually require huge effort and attention.
OUTLOOK The current commercial outlook seems to be one of wait and see. While there is a substantial amount of non-deployed finance, the conditions for the deployment of this capital haven’t yet materialised. Consequently, most businesses or investors are preparing themselves now so that when market conditions improve, possibly in Q3 this year, they will be in a position to avail of the undoubted opportunities.