Central Bank of Ireland today launched a commemorative coin celebrating the life and work of renowned Irish playwright Seán O'Casey, on what would have been his 146 th birthday. It marks the 100th anniversary of the inaugural performance of his masterpiece The Plough and the Stars at the Abbey Theatre. The silver proof coin will go on sale today (Monday 30 March 2026) at 1pm on www.collectorcoins.ie . Designed by PJ Lynch, there are just 3,000 coins available, and they will retail at €90. Gov...
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The Central Bank Commission has appointed Elizabeth Mahon as Secretary of the Central Bank, effective 30 March. Elizabeth has also been appointed to the role of Head of Governance in the Central Bank. Elizabeth has more than 20 years' experience in financial services, principally in the banking sector, where her career has focused on strategy and implementation, management consulting, organisational change, and stakeholder management. Since 2022 she has worked at the Central Bank as Head of S...
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Governor Gabriel Makhlouf of the Central Bank of Ireland today emphasised the critical need to strengthen Europe’s Single Market as the foundation for mobilising the continent’s substantial savings in an increasingly fragmented global environment.
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In his remarks, Governor Gabriel Makhlouf emphasised that Europe must mobilise its substantial savings by strengthening economic growth, completing the Single Market, and building more integrated capital markets, as capital currently flows abroad due to perceived higher returns elsewhere. He argued that central banks must anchor price stability and financial stability as preconditions for effective capital allocation, and that by addressing these fundamentals, European savings will naturally ...
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Naperte Designated Activity Company (CLONE) - Central Bank of Ireland issues warning about unauthorised firm
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TD ICAV (CLONES) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Castleforbes Wealth (CLONE)– Central Bank of Ireland issues warning about unauthorised firm
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Renewed surge in international energy prices tests domestic economic resilience Higher oil and gas prices are expected to lead to lower growth and higher inflation than previously expected. The extent is dependent on the duration of the conflict and the scale of damage to critical infrastructure in the Middle East. MDD is forecast to grow by 2.8 per cent per annum on average from 2026 to 2028 in the baseline forecast, with inflation averaging 2.5 per cent per annum over that period. More seve...
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J.P. Morgan Asset Management (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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In his latest blog Governor Gabriel Makhlouf explains that the Governing Council held rates steady at 2 per cent due to new geopolitical uncertainty from Middle East tensions, which risk pushing energy prices and headline inflation above the 2 per cent target whilst dampening growth. The Bank will monitor inflation expectations and wage dynamics closely to prevent the energy shock from becoming embedded in persistent above-target inflation, as occurred after the Ukraine crisis.
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EU Bonds - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Suisse Equity- Central Bank of Ireland Issues Warning on Unauthorised Firm
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Elarem Limited - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Callanor - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Private Client Trustees Limited (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Central Bank of Ireland today published a Discussion Paper examining the potential role of Distributed Ledger Technology (DLT) and tokenisation in the financial system . Deputy Governor Vasileios Madouros, commenting on the publication, said: “Distributed ledger technology and tokenisation have the potential to transform how financial services are delivered. We believe this technology, if enabled and deployed correctly, can change the financial system for the better, including by helping the ...
The Central Bank of Ireland (CBI) has launched Discussion Paper 12 (DP12) on Distributed Ledger Technology (DLT) and tokenisation in financial services to explore their transformative potential in areas like markets, funds, payments, and money, while assessing opportunities, risks, and enablers such as legal clarity and interoperability. This matters for compliance professionals as it signals CBI's proactive stance on integrating these technologies into a resilient financial system, aligning with EU ambitions like the Savings and Investment Union, and invites stakeholder input to shape future policy without proposing immediate rules. (Source: https://www.centralbank.ie/news/article/press-release-discussion-paper-tokenisation-and-distributed-ledger-technology-in-financial-services-5-march-26 [publication]; https://www.arthurcox.com/insights/central-bank-issues-discussion-paper-on-dlt-tokenisation-in-financial-services/ )
What Changed
This is a non-binding discussion paper, not a regulatory change or new requirement; it poses 16 questions on topics including legal recognition of tokenised instruments, governance, infrastructure, funds (e.g., tokenised MMFs and ETFs), payments, and risks like operational resilience and interoperability. It highlights needs for policy intervention to avoid fragmented "walled gardens," ensure central bank money's role, and address challenges in fractionalisation, transparency, and settlement finality, but no mandates are imposed yet.
What You Need To Do
- Review DP12 (PDF available via CBI site) and prepare/ submit responses to the 16 questions by 5 June 2026, focusing on legal clarity, risks, funds tokenisation, and enablers like interoperability
- Engage in CBI's structured stakeholder dialogues to influence future frameworks
- Assess internal DLT/tokenisation pilots or plans against discussed risks (e
- No immediate compliance obligations, but monitor for follow-up rules; funds firms should evaluate tokenised share/unit models
Key Dates
5 June 2026 - Deadline for stakeholder submissions responding to the 16 questions in DP12. DEADLINE
Post-5 June 2026 - CBI to publish a feedback statement assessing responses and existing policy fit. (Source: https://www.centralbank.ie/news/article/press-release-discussion-paper-tokenisation-and-distributed-ledger-technology-in-financial-services-5-march-26 [publication]; https://www.arthurcox.com/insights/central-bank-issues-discussion-paper-on-dlt-tokenisation-in-financial-services/ )
Compliance Impact
Urgency: Medium – This consultative paper poses no immediate rules but represents a key opportunity to shape emerging DLT/tokenisation regulation amid CBI's 2026 priorities on tech-driven transformations and resilience; inaction risks missing input on critical enablers like legal finality for tokens, potentially leading to stricter future requirements misaligned with firm needs. It aligns with broader EU/BIS pushes (e.g., MiCA, tokenized reserves), amplifying relevance for firms in funds, payments, and crypto.
Impax Stocker (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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KPH Advisory Services (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Central Bank of Ireland Issues Warning on Unauthorised Firm – Sugon Ventures
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Earston Limited t/a Earston Wealth Management (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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The Central Bank has today published its Regulatory & Supervisory Outlook 2026 , which sets out its latest assessment of the risk landscape facing the financial sector and the supervisory work it will undertake in response. This follows on from the Governor’s letter to the Tánaiste on the economic outlook and regulatory priorities in January . This is the third year of the report, which continues to be set against a backdrop of a changing, uncertain and increasingly complex external environme...
The Central Bank of Ireland (CBI) has published its **Regulatory & Supervisory Outlook 2026**, outlining priorities shaped by geoeconomic fragmentation, technological acceleration, and elevated risks like operational resilience, cyber threats, data/AI, and consumer protection. This matters for compliance professionals as it signals intensified supervisory scrutiny, including desktop and onsite inspections, across Ireland's financial sector to ensure resilience and adaptability amid uncertainties.[https://www.centralbank.ie/news/article/press-release-central-bank-sets-out-its-regulatory-and-supervisory-priorities-26-february-2026][https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]
What Changed
No new binding regulatory requirements are introduced in this publication, which serves as a strategic outlook rather than enforceable rules. Key shifts in risk assessment include elevated operational risks (due to geopolitics, digitalisation, complex models), increased asset valuation/market risks, and rising data/models/AI risks, while inflation/interest rate risks have decreased.
What You Need To Do
- Conduct robust scenario testing and risk assessments for operational resilience, cyber threats, credit/market/liquidity risks, and document outcomes within compliance monitoring programs
- Implement revised CPC by 24 March 2026, assessing scope changes and business impacts
- Enhance financial crime controls, including fraud victim support, scam awareness, and market abuse detection; monitor AMLA developments
- Embed ESG/climate risks into governance, risk management, and business models, preparing for SFDR 2
- Review AI/data/models usage and operational frameworks for supervisory inspections; engage with CBI Innovation Sandbox if applicable
Key Dates
24 March 2026 - Revised Consumer Protection Code (CPC) takes effect, following 12-month lead-in; firms must ensure full implementation.[https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/] DEADLINE
H1 2026 - CBI consultation on new Regulatory Impact Assessment (RIA) Framework.[https://maples.com/regulatory-round-up/central-bank-of-ireland-update-and-supervisory-approach-for-2026-fund-service-providers][https://www.centralbank.ie/docs/default-source/regulation/transforming-regulation-and-supervision/regulating-supervising-well-a-more-effective-and-efficient-framework.pdf]
Summer 2027 - Anti-Money Laundering Authority (AMLA) single rulebook implementation, influencing financial crime priorities.[https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]
2026-2027 - Ongoing desktop/onsite reviews on operational resilience, ESG/climate, and supervisory priorities across sectors.[https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]
Compliance Impact
Urgency: High – This outlook directly previews intensified 2026 supervision, with operational/cyber resilience and consumer protection as "key concerns" likely triggering unannounced inspections and enforcement. Firms risk findings on outdated resilience testing or CPC gaps, especially amid elevated risks; proactive alignment now prevents remediation costs and sanctions, given CBI's efficiency roadmap and international...
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Gabriel Makhlouf, Governor of the Central Bank of Ireland, today delivered a keynote address at the Blavatnik School of Government, outlining the critical role of central bank independence in delivering price stability and supporting economic prosperity for society. Speaking on “Institutions, Anchors, and Their Discontents: The Role of Central Banks”, Governor Makhlouf highlighted how central bank independence, underpinned by clear mandates and robust accountability frameworks, enables moneta...
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Central Bank of Ireland Deputy Governor Vasileios Madouros spoke at Technological University Dublin on the need to increase domestic investment over the next decade to support Ireland’s long-term economic success. Looking back, Deputy Governor Madouros discussed how, despite very strong economic growth, investment in key domestic sectors has been relatively subdued over the past decade. Looking ahead, like many other countries, Ireland is facing profound economic and societal shifts in years ...
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Over the course of the next decade, we will need to allocate more of our collective resources towards domestic investment. 1 In part, that is because of where we are coming from. Despite very strong economic growth in recent years, investment in key domestic sectors has been lacklustre. But it is also because of where are going. Ireland, like many other countries, is facing profound structural transitions. Navigating these will require additional investment in the years ahead. Raising Ireland...
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I would like to welcome you all to the Central Bank of Ireland today 1 . We are delighted to host this gathering of EU Heads of Missions, representatives of our friends and partners from across the EU. A little over a year ago I had the pleasure to meet with you all. I spoke then of a geopolitical landscape facing significant strain and complexity; of the rise of economic nationalism and trade disputes; as well as the shift from cooperation to competition, and its impact on our ability to mee...
This speech by Central Bank of Ireland (CBI) Governor Gabriel Makhlouf outlines priorities for building economic and financial resilience amid geopolitical risks, climate change, technological shifts, and geoeconomic fragmentation, emphasizing domestic policy focus areas like infrastructure, indigenous business growth, and fiscal buffers. It matters for compliance professionals as it previews CBI's forthcoming 2026 regulatory and supervisory priorities, signaling heightened scrutiny on operational and financial resilience, consumer protection, and alignment with a transforming regulatory framework. https://www.centralbank.ie/news/article/speech-governor-makhlouf-head-eu-missions-10-February-2026
What Changed
This is a forward-looking speech, not announcing immediate regulatory changes, but it references CBI's ongoing transformation agenda, including:
Four overarching supervisory priorities for 2026: (1) Maintaining/building resilience to geopolitical/macro-financial risks (operational and financial resilience); (2) Securing consumer/investor interests; plus two others implied in related releases (e.g., governance, financial crime).
What You Need To Do
- Review and prepare for priorities
- Enhance resilience planning
- Engage on consultations
- Sector-specific
- Proactive supervision prep
Key Dates
Next few weeks from 11 February 2026 - Publication of CBI's full 2026 Regulatory and Supervisory Priorities. https://www.centralbank.ie/news/article/speech-governor-makhlouf-head-eu-missions-10-February-2026
H1 2026 - Consultation on new Regulatory Impact Assessment (RIA) Framework. https://maples.com/regulatory-round-up/central-bank-of-ireland-update-and-supervisory-approach-for-2026-fund-service-providers https://www.centralbank.ie/docs/default-source/regulation/transforming-regulation-and-supervision/regulating-supervising-well-a-more-effective-and-efficient-framework.pdf
Shortly (2026) - Launch of comprehensive Fund Service Provider (FSP) Framework review. https://www.centralbank.ie/docs/default-source/regulation/transforming-regulation-and-supervision/regulating-supervising-well-a-more-effective-and-efficient-framework.pdf
2025-2026 - Ongoing implementation of banking/payments supervisory activities and multi-year roadmap (supervision, regulation, gatekeeping, reporting). https://www.matheson.com/insights/fig-top-5-at-5-06-03-2025/ https://www.centralbank.ie/news/article/press-release-central-bank-of-ireland-publishes-roadmap-to-deliver-a-more-effective-and-efficient-regulatory-framework-10-december-2025
Compliance Impact
Urgency: Medium—This speech signals strategic direction rather than enforceable rules, but imminent priorities publication and 2026 consultations demand proactive preparation to avoid intensified supervision/enforcement. It matters because CBI emphasizes resilience in a high-risk environment (geopolitics, AI, climate), with non-compliance risking closer scrutiny under new integrated approach; firms ignoring this could face heightened operational reviews amid efficiency drive without standards reduction. https://www.centralbank.ie/regulation/transforming-regulation-and-supervision
BankAsset ManagerInsurance
The Central Bank of Ireland has set out its regulatory and supervisory priorities for 2026 and provided detailed advice to Government on building economic resilience in the face of unprecedented uncertainty. In his letter to the Tánaiste and Minister for Finance Simon Harris, Governor Gabriel Makhlouf set out his views on the macro-financial environment, the financial services landscape and the Central Bank of Ireland’s financial regulation priorities for the year ahead . Governor Makhlouf em...
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In his latest blog, Governor Gabriel Makhlouf explains why the Governing Council kept its main policy interest rate (the deposit facility rate) unchanged at 2% for the fifth consecutive time since June 2025.
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In his latest blog, Governor Gabriel Makhlouf argues that economists must adapt their analytical frameworks and expand their focus beyond traditional topics to address emerging challenges—such as geopolitical upheaval and defence spending—in order to provide robust evidence-based policy advice that serves the public interest.
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No description available.
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Central Bank of Ireland has successfully completed the sale of its Spencer Dock (East Wing) building to the Office of Public Works for €23.7m. The sale of Spencer Dock was a key element of the Central Bank’s longer term property strategy aligned to our decision to develop a single Dockland Campus through the purchase of our North Wall Quay building and subsequent purchase of our Mayor Street building. This sale of the East Wing, to Office of Public Works on 22 January 2026, follows the earlie...
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Alan Finance Group (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Doherty Bergin Financial Services Ltd (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Introduction Good morning and thank you to Michael for inviting me to speak at the Compliance Institute’s Annual General Meeting. It is always a real pleasure to engage with compliance professionals. At the Central Bank, we recognise the essential role played by the compliance community in ensuring that financial firms are well-run and contributing to a financial system that is trusted and resilient. We also recognise the important role played by the compliance institute, equipping those work...
This speech by Gerry Cross, Director of Capital Markets and Funds at the Central Bank of Ireland (CBI), outlines key supervisory priorities including securing customers' interests via the revised Consumer Protection Code, Individual Accountability Framework (IAF) implementation, regulatory simplification, resilience, technology leverage, and an evolving outcomes-focused supervision approach. It matters because it signals CBI's expectations for compliance professionals to drive these outcomes in firms, emphasizing proportionality and ongoing engagement amid regulatory evolution. Compliance teams must integrate these themes to align with CBI's shift toward less process-driven, more effective oversight.
What Changed
Revised Consumer Protection Code: Introduces new Standards for Business, building on the Code reviewed with industry input; focuses on delivering good outcomes for consumers and the economy.
Individual Accountability Framework (IAF): Implemented 18 months prior (circa mid-2024); enhances clarity on responsibilities, supports governance, and aligns with outcomes-focused regulation rather than enforcement-heavy approaches.
Supervisory Approach Evolution: Shifting in 2025-2026 to risk-based, outcomes-focused, less process-driven supervision integrated across financial stability, consumer...
What You Need To Do
- Implement Revised Consumer Protection Code
- Adopt Outcomes-Focused Practices
- Engage with CBI
- Leverage Technology
Key Dates
24 March 2026 - Revised Consumer Protection Code comes into force; firms must ensure full readiness and ongoing embedding of provisions, including new Standards for Business. DEADLINE
January 2026 speech).
Compliance Impact
Urgency: Medium. This speech reinforces imminent obligations like the 24 March 2026 Consumer Protection Code effective date (less than 2 months from speech/publication), requiring immediate readiness checks, but lacks new rules or critical enforcement threats. It matters for long-term alignment with CBI's outcomes-focused supervision, reducing future supervisory risks through proactive embedding of IAF and simplification; non-engagement could signal poor governance amid evolving oversight.
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Invesco Investment Management Limited (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Harbor Valtrix– Central Bank of Ireland Issues Warning on Unauthorised Firm
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Solunar Finance Holdings Limited (Clone) – Central Bank of Ireland Issues Warning on Unauthorised Firm
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Economics Winter Workshop 2025: Opening Remarks by Governor Gabriel Makhlouf
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In this, his final blog for 2025, Governor Gabriel Makhlouf reflects on Ireland and the euro area’s economic performance and looks ahead to 2026, drawing on the Quarterly Bulletin and latest eurosystem staff projections published this week.
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MDD is projected to grow by just below 4 per cent in 2025. From 2026 to 2028, MDD is forecast to grow at an annual average rate of 2.9 per cent per annum. More positive momentum in MNE investment amid lower uncertainty contrasts with slower pace of growth in domestic sectors and cooling of the labour market as drag from capacity constraints becomes evident. Outlook for slightly higher overall inflation, as underlying services price growth more persistent at a higher rate than pre-pandemic. Th...
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Good evening. Thank you for the invitation to join you today. This evening I want to talk about economic resilience, what it is and whether we have enough of it. I spoke about economic resilience in my first speech as Governor – 6 years ago – and wrote to the Minister for Finance about it in early February this year. After everything that’s happened since February, it feels timely to take stock of where we are. My conclusion is that we need to give it greater focus. Let me start by setting ou...
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New report outlines the Central Bank’s approach to more effective and efficient regulatory and supervisory framework, reducing complexity and improving clarity while maintaining resilience and important protections in the system. This work builds on the Central Bank’s strategy to transform regulation and supervision, including the introduction of our new integrated supervisory approach and the improvements made in our gatekeeping processes in recent years. The roadmap sets out a comprehensive...
The Central Bank of Ireland published a comprehensive multi-year roadmap on December 10, 2025, aimed at streamlining its regulatory and supervisory framework across four pillars: supervision, regulation, gatekeeping, and reporting. This initiative represents a strategic shift toward more effective and efficient oversight while explicitly maintaining resilience standards and consumer protections, responding to EU calls for regulatory reform to enhance competitiveness.
What Changed
The roadmap encompasses four major reform areas:
*Supervision: Implementation of a new integrated, risk-based supervisory approach** introduced in January 2025, consolidating multidisciplinary teams and sharpening risk focus with clearer supervisory communications. This delivers more coherent firm engagement, stronger proportionality, and streamlined processes.
*Regulation: Comprehensive updates to the domestic rulebook, including:
Insurance: Major compatibility review to eliminate duplication with Solvency II reforms and review of 2021 Recovery Planning Regulations
Banking: Review of...
What You Need To Do
- *Immediate actions for compliance professionals
- *Monitor consultation releases
- *Assess rulebook changes
- *Evaluate supervisory engagement
- *Prepare for gatekeeping changes
Key Dates
January 2025 - New integrated supervisory model became effective
2026 - Public consultation on new Regulatory Impact Assessment Framework
2026 to first half of 2028 - Multi-year programme implementation period for all roadmap initiatives
2025 - Strategic review of Industry Funding Levy approach (consultation expected during 2025)
Compliance Impact
Urgency: HIGH
BankAsset ManagerInsurance Good morning and welcome everyone. I am delighted to address the eighth meeting of this Forum. When the Forum was established three years ago, the goal was to bring together participants from across Ireland to build a shared approach to understanding and managing the systemic risks that climate change poses, while supporting the orderly transition of households and businesses to the net zero objective that we’re all familiar with. The Forum has come a long way in those three years. We have es...
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EPC Finance Limited - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Good morning everyone. 1 I am delighted to join you here today for this year’s Climate Finance week. “The scientific evidence that climate change is a serious and urgent issue is […] compelling.” “The benefits of strong, early action on climate change outweigh the costs.” And “the choices made in the next 10-20 years […] will affect greenhouse gas emissions for the next half-century.” These are not my words. And they are not recent words. They are key conclusions from the Stern Review on the ...
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Rates Finder– Central Bank of Ireland Issues Warning on Unauthorised Firm
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Quilter Cheviot Europe Limited (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Fir
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Magnum Options - Central Bank of Ireland Issues Warning on Unauthorised Firm
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LSFX Limited/ LightStocksFX- Central Bank of Ireland Issues Warning on Unauthorised Firm
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CFD Trades 24 – Central Bank of Ireland Issues Warning on Unauthorised Firm
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BW Financial Services (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Bemo Investment Firm Ltd (Clone)– Central Bank of Ireland Issues Warning on Unauthorised Firm
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Warning Unauthorised Investment Firm / Unauthorised Investment Business Firm Unauthorised Firm Name Monument Financial Group Website https://monumentfg.com/ Email addresses used admin@monumentfg.com [name].[surname]@monumentfg.com Phone number used +353 81 800 5284 Authorisation in Ireland This firm is not authorised to provide investment services in Ireland. Notes: Any person wishing to contact the Central Bank with information regarding such firms / persons may telephone (01) 224 5800 or re...
The Central Bank of Ireland (CBI) has issued a warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, identifying **Monument Financial Group** as an unauthorised firm providing investment services in Ireland without authorisation. This matters for compliance professionals because it underscores the CBI's proactive enforcement against unauthorised activity, heightens scam awareness, and signals risks of consumer harm, regulatory referrals to An Garda Síochána, and potential enforcement against facilitating parties.[https://www.centralbank.ie/news/article/monument-financial-group---central-bank-of-ireland-issues-warning-on-unauthorised-firm]
What Changed
This is not a regulatory change or new requirement but an enforcement action via a warning notice published on 25 August 2025. It publicly names the firm, its website (https://monumentfg.com/), emails (admin@monumentfg.com, [name].[surname]@monumentfg.com), and phone (+353 81 800 5284), confirming it lacks authorisation for investment services in Ireland.
What You Need To Do
- Immediate verification
- Client communications
- Internal compliance
Key Dates
25 August 2025 - Warning notice published by CBI, adding Monument Financial Group to the unauthorised firms list.[https://www.centralbank.ie/news/article/monument-financial-group---central-bank-of-ireland-issues-warning-on-unauthorised-firm]
Compliance Impact
Urgency: Medium. This matters as part of a pattern of CBI warnings (e.g., Expert Limited on 19 June 2025, RCE Banque on 29 August 2025, DotBig on 01 December 2025), indicating rising unauthorised investment activity and scam risks in Ireland. Authorised firms face indirect liability for poor due diligence, reputational damage, or facilitation charges; consumers risk total fund loss without regulatory protections.
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Clermont Meridian Trading - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Northern Trust Fund Managers (Ireland) Ltd (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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TD Global Company (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Ackerman & Foster LLP - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Investment Peak - Central Bank of Ireland Issues Warning on Unauthorised Firm
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GasTrade - Central Bank of Ireland Issues Warning on Unauthorised Firm
FintechPayment ProviderCrypto Exchange
Beta-Tech - Central Bank of Ireland Issues Warning on Unauthorised Firm
FintechCrypto Exchange
VintageFXsignals - Central Bank of Ireland Issues Warning on Unauthorised Firm
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Pecan Capital MG - Central Bank of Ireland Issues Warning on Unauthorised Firm
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At our meeting yesterday, the ECB’s Governing Council cut our three policy rates by 25 basis points (or, one quarter of a percent). The disinflation process remains on track, allowing us to reduce rates. However, with some components of inflation still too high for comfort – notably, services inflation – I continue to favour a gradual reduction in rates over large moves. As policy rates fall, we should see a reduction in the costs of borrowing for households and firms. We are already seeing s...
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Governor of the Central Bank of Ireland Gabriel Makhlouf today (25 November) addressed the UK Society of Professional Economists annual dinner . Speaking this evening, Governor Makhlouf said: “Europe is at a pivotal moment in its economic development. The tangle of ageing populations with weak productivity growth raise questions about the long-term growth outlook. The need to build economic resilience to both short-term shocks and longer-term transitions become self-evident by the day. Produc...
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The Central Bank of Ireland has today (Tuesday 23 July) published a Feedback Statement to the Discussion Paper on an approach to macroprudential policy for investment funds.
The Central Bank of Ireland (CBI) published a Feedback Statement on 23 July 2024 summarizing stakeholder responses to its Discussion Paper (DP11) on developing a macroprudential policy framework for investment funds, emphasizing the sector's growth and systemic risks. This matters for compliance professionals as it signals ongoing domestic and international efforts to enhance fund resilience amid rapid expansion of non-bank financial intermediation (NBFI), with Ireland's funds sector reaching €6.2 trillion in assets by end-2022. No immediate new rules are imposed, but it underscores evaluation of existing measures and future policy evolution.
What Changed
This Feedback Statement introduces no new regulatory changes or requirements; it is a summary of feedback on DP11 and CBI's perspectives on macroprudential considerations for funds. It highlights two pre-existing macroprudential measures already implemented:
Restrictions on leverage and liquidity mismatch for Irish-authorised property funds (introduced prior to 2024).
A codified minimum 300bps yield buffer for Irish-authorised GBP-denominated Liability Driven Investment (LDI) funds, requiring resilience to UK interest rate shocks, with liquid assets in the buffer and real-time notifications...
What You Need To Do
- For GBP LDI funds
- For property funds
- All relevant managers
Key Dates
18 January 2024 - Consultation deadline for CP157 on macroprudential measures for GBP LDI funds. DEADLINE
23 July 2024 - Publication of Feedback Statement to DP11 on macroprudential policy for investment funds.
29 April 2024 - Announcement and start of three-month implementation period for GBP LDI yield buffer measures.
29 July 2024 - Effective date for GBP LDI funds' minimum 300bps yield buffer compliance (three months post-announcement). DEADLINE
22 November 2024 - CBI response to European Commission consultation on macroprudential policies for NBFI.
Compliance Impact
Urgency: Medium—No new rules from the Feedback Statement itself, reducing immediate pressure, but firms must ensure full compliance with implemented LDI (by July 2024) and property fund measures while preparing for evaluations and EU-level developments (e.g., November 2024 CBI response). This matters as Ireland's funds dominance (global hub status, 16% of world financial assets) amplifies systemic scrutiny, with non-compliance risking supervisory actions under AIFMD Article 25 or future tools; proactive monitoring prevents disruptions in a €68 trillion global sector.
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The Central Bank of Ireland has today (29 April 2024) announced the introduction of macroprudential measures for Irish-authorised GBP-denominated Liability Driven Investment (LDI) funds. Building on the recent Consultation Paper “Macroprudential measures for GBP Liability Driven Investment funds”, the measures require that GBP-denominated LDI funds authorised in Ireland maintain sufficient resilience to be able to withstand a sudden and adverse shocks to UK interest rates.
The Central Bank of Ireland (CBI) introduced binding macroprudential measures on 29 April 2024 requiring Irish-authorised GBP-denominated Liability Driven Investment (LDI) funds to maintain a minimum **300 basis point yield buffer** to withstand adverse UK interest rate shocks. This regulatory intervention directly addresses systemic risks exposed during the September-October 2022 UK gilt market crisis, where excessive leverage in LDI funds amplified financial stress across markets.
What Changed
The framework establishes the following core requirements for in-scope GBP-denominated LDI funds:
*Yield Buffer Requirement
Minimum resilience threshold of 300 basis points** increase in UK yields
CBI clarifies this is a minimum floor, not a target; funds may prudently maintain higher buffers
Assets must be sufficiently liquid under both normal and stressed market conditions
*Yield Buffer Composition Rules**
"External assets" or "third-party assets" cannot be included in the yield buffer
Non-UK rate-sensitive assets included in the buffer require appropriate risk assessment and regular...
What You Need To Do
- *For Existing Fund Managers (by 29 July 2024)
- *Audit & Classification
- *Yield Buffer Assessment
- *Portfolio Restructuring
- Removal of external/third-party assets from buffer calculations
Key Dates
29 April 2024 - CBI announces finalised macroprudential framework
29 July 2024 - Compliance deadline for existing Irish GBP-denominated LDI funds authorised before 29 April 2024 (3-month implementation period) DEADLINE
Immediate - Compliance requirement for newly authorised LDI funds after 29 April 2024 DEADLINE
Ongoing - New funds seeking authorisation must notify CBI of framework scope applicability DEADLINE
Compliance Impact
Urgency Rating: HIGH
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It has come to the attention of the Central Bank that a scam entity by the name SEI Investment (United States, Ireland), formerly operating the fraudulent clone website www.seiinvestment.com, has been claiming to be an investment firm / investment business firm in the absence of appropriate authorisations. In this instance, the scam entity cloned details and website content of the legitimate firm, SEI Investments (www.seic.com), in order to deceive consumers. The legitimate firm was proactive...
The Central Bank of Ireland (CBI) issued a warning on 26 September 2022 about a fraudulent entity named "SEI Investment (United States, Ireland)" that cloned the legitimate authorised firm SEI Investments (www.seic.com) via the fake website www.seiinvestment.com to deceive consumers into unauthorised investment services. This matters because it highlights the rising threat of clone firm scams, which impersonate authorised entities using stolen details like names, addresses, and authorisation numbers, exposing firms to reputational risk and consumers to financial loss without Investor Compensation Scheme protection. Authorised firms must remain vigilant in monitoring for clones and reporting them promptly, as demonstrated by SEI Investments' proactive response that led to the site's deactivation in February 2022.
What Changed
This is not a regulatory change or new requirement but a public enforcement warning under Section 53 of the Central Bank (Supervision and Enforcement) Act 2013, emphasising ongoing enforcement against unauthorised firms providing regulated financial services, which is a criminal offence. It reinforces consumer protection guidance without introducing new rules, but signals CBI's heightened focus on clone firm frauds, as seen in similar warnings (e.g., The Capital Holdings clone, Bank of Ireland clones).
What You Need To Do
- Monitor for clones
- Client communications
- Internal processes
- Public reporting
Key Dates
26 September 2022 - CBI issues warning notice on SEI Investment clone.
February 2022 - Fraudulent clone website www.seiinvestment.com deactivated following legitimate firm's report.
Compliance Impact
Urgency: Medium – Not critical as the specific clone site was deactivated in 2022, but medium due to persistent clone fraud trend evidenced by ongoing CBI warnings into 2026 (e.g., BW Financial Services clone in August 2025, Stalwart Investments clone in March 2026). Matters for authorised firms as it underscores reputational, operational resilience, and consumer protection obligations under CBI's supervisory framework; unaddressed clones can lead to client complaints, enforcement scrutiny, or compensation claims if mis-sold products are linked back erroneously.
Asset ManagerWealth ManagerBank Recent increase in cross-border financial assets is largely due to migration of assets from UK banks to subsidiaries in Ireland, to continue to serve EU clients after Brexit. Paper examining the strength of the connectedness of Irish insurance sector and investment funds finds insurers primarily hold shares in equity, bond, and mixed funds. The Irish non-bank financial intermediation sector – as measured using a Financial Stability Board framework - is the fifth largest in the world. The Cent...
The Central Bank of Ireland (CBI) published three "Behind the Data" papers on 20 January 2022 analyzing the international activities of Ireland's banking, insurance, investment funds, and non-bank financial intermediation (NBFI) sectors, highlighting post-Brexit asset migrations, insurer exposures via funds, and Ireland's fifth-largest global NBFI sector per FSB metrics. This matters for compliance professionals as it signals heightened CBI scrutiny on cross-border exposures, interconnectedness, and data granularity needs, potentially informing future supervisory expectations, macro-prudential policies, and reporting enhancements without imposing immediate rules.
What Changed
No direct regulatory changes, requirements, or new rules are introduced; these are analytical papers using existing locational banking, insurance, and fund data. Key insights include: (i) €180bn surge in cross-border bank assets (2018-Q3 2021) driven by UK-to-Ireland subsidiary migrations post-Brexit, concentrated in loans/deposits, derivatives, and three foreign-parent banks; (ii) Irish insurers' fund holdings primarily in equity (US-issued), bond (euro-area government/corporate), and mixed funds, with ~50% domiciled in Luxembourg but minimal local issuance; (iii) Recommendation for refined...
What You Need To Do
- Review and enhance internal reporting on cross-border assets, distinguishing Irish-parent vs
- Map insurer fund exposures to underlying assets (e
- Assess NBFI activities against FSB economic functions for stability risks; prepare for possible granular data requests
- Monitor CBI's "Behind the Data" series for evolving trends, as it uses firm-submitted data and fulfills IMF recommendations (e
Key Dates
20 January 2022 - Publication date of the three Behind the Data papers .
Compliance Impact
Urgency: Low – This is informational analysis from 2022 with no binding rules, deadlines, or enforcement; it matters indirectly by flagging data gaps (e.g., parent distinction) that could shape future CBI supervision, macro-prudential tools, or reporting burdens, especially amid ongoing Brexit/NBFI focus. Firms with foreign parents or fund-heavy portfolios should note for risk monitoring, but no immediate compliance overhaul needed.
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