On 9 June 2009, the Department of Finance published the European Communities (Assessment of Acquisitions in the Financial Sector) Regulations 2009 (Regulations) which implement Directive 2007/44/EC into Irish law. The Regulations introduce new rules for the FR when assessing potential acquisitions and disposals of shareholdings in a range of financial sector entities, including insurance companies. The Regulations introduce strict timeframes for such assessments and set out the criteria by which the application must be assessed. The FR has also recently published an 'Acquiring Transaction Notification Form' that must be submitted to the FR, on which the assessment will be based.