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CBI Regulatory Updates

Central Bank of Ireland

Ireland's central bank and financial services regulator.

🇮🇪 Ireland 193 updates Last updated: 27 May 2026
🇮🇪 CBI Speech

Opening remarks at Financial Stability Review press conference – Governor Gabriel Makhlouf

Good morning and welcome to the launch of our first Financial Stability Review of 2026 . During 2026, risks facing the domestic financial system from the global environment have intensified. In 2025, the origin of external risks related primarily to swings in global trade policy. This year, the origin relates to the pricing, and the sustainability of global energy supplies, following the start of the war in the Middle East. This shock, coming less than a year after the previous trade shock, a...

Sectors:
Banking & CreditCapital Markets & TradingInvestment Management
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingTechnology & Cyber
BankAsset ManagerAll Firms
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🇮🇪 CBI Speech

Global risks to Irish financial system have intensified - Central Bank of Ireland’s Financial Stability Review

Risks to Ireland's financial system from the global environment have intensified, Central Bank of Ireland has said today. The Financial Stability Review , published today, assesses the risks to and resilience of the Irish financial system. A persistent global energy supply shock triggered by the conflict in the Middle East, the risk of a correction in financial markets, potentially amplified by financial vulnerabilities in parts of the global non-bank sector, and increasing cyber risks could ...

Sectors:
Banking & CreditCapital Markets & TradingInvestment Management
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingTechnology & Cyber
BankAsset ManagerAll Firms
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🇮🇪 CBI Enforcement medium

Finance in transition: the Central Bank’s approach to tokenised finance – Speech by Deputy Governor Vasileios Madouros

1 We are at the early stages of a potential technological rewiring of finance. Fast-forward ten or twenty years, and it seems likely that the use of shared, programmable ledgers – and the tokenisation of financial assets – will have become embedded across the financial system. Today, we stand at a juncture. The question is less whether the technology will transform finance. Rather, it is how we collectively shape this ongoing transition, so that the potential of tokenised finance is realised,...

AI Analysis

The Deputy Governor’s speech sets out the Central Bank of Ireland’s (CBI) emerging regulatory stance on tokenised finance and distributed ledger technology (DLT), framing it as a structural transition rather than a niche innovation. While it does not introduce new binding rules, it clearly signals supervisory expectations, impending policy development (including follow‑up to the March 2026 Discussion Paper on tokenisation and DLT), and the need for regulated firms to integrate tokenisation risks, governance and operational resilience into existing regulatory frameworks.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Banking & CreditCapital Markets & TradingCrypto & Digital Assets
Topics:
Technology & CyberAuthorisation & LicensingOperational Resilience / Outsourcing
BankAsset ManagerFintech
Crypto Exchange
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🇮🇪 CBI Speech

A Modern Code for a Modernising Movement - Speech by Deputy Governor Colm Kincaid at ILCU

Good afternoon and thank you for the opportunity to speak to you today. It is great to see the energy and commitment to the credit union movement evident here today and reflected in your agenda for today’s conference. 1 Today’s event is especially timely, coming not long since Minister Troy’s announcement in April of the Credit Union Strategy Project, which provides an opportunity to future proof the credit union sector to overcome challenges and meet opportunities. The Central Bank welcomes ...

Sectors:
Banking & CreditConsumer CreditMortgage & Lending
Topics:
Consumer Protection / ConductAuthorisation & LicensingTechnology & Cyber
Bank
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🇮🇪 CBI Speech

Makhlouf calls for genuine single market in goods, services and capital to boost European competitiveness

Governor of Central Bank of Ireland Gabriel Makhlouf today (Tuesday 19 th May) spoke at the AFME Annual European Financial Integration conference , where he called for a more ambitious approach to Europe’s Single Market, arguing that greater integration in goods, services and capital is essential to enhance European competitiveness and resilience. The Governor outlined two primary conditions for building a genuine single capital market: completing the regulatory architecture and establishing ...

Sectors:
Capital Markets & TradingBanking & CreditInvestment Management
Topics:
Authorisation & LicensingPrudential / Capital RequirementsReporting & Disclosure
All Firms
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🇮🇪 CBI Speech

One Single Market: Goods, Services and Capital - Speech by Governor Gabriel Makhlouf at  AFME European Financial Integration Conference

Thank you for the invitation to speak this afternoon. I want to talk about the Single Market, which is one of Europe's greatest political and economic achievements. Over more than three decades, it has been an engine of European growth and resilience, delivering scale, opportunity, and tangible benefits for citizens and businesses across the Union. As António Costa has pointed out, it connects 450 million consumers and 32 million companies, supporting around 56 million jobs through trade with...

Sectors:
Capital Markets & TradingBanking & CreditInvestment Management
Topics:
Authorisation & LicensingReporting & DisclosurePrudential / Capital Requirements
All Firms
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🇮🇪 CBI News

Central Bank announces appointment of new Director of Finance and Business Performance

The Central Bank has today (15 May 2025) announced the appointment of Glenn Calverley to the role of Director of Finance and Business Performance. Mr Calverley will take up his role with effect from 1 September 2026. Glenn brings a wealth of experience to this role, most recently as Director of Strategy & Governance, a role he has held since 2021. He joined the Central Bank in 2015, initially as Head of Organisational Risk and later as Head of Strategy & Foresight. Prior to joining the Centra...

Sectors:
Banking & Credit
Topics:
Technology & CyberSenior Managers / Governance
Wealth ManagerBank
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🇮🇪 CBI Speech

Central Bank publishes T.K. Whitaker’s memoir

Central Bank of Ireland has made the memoir of former Governor T.K. Whitaker available digitally for the first time. While the memoir has been available for in-person viewing in the Central Bank's archives, it is now accessible online at www.centralbank.ie , allowing a wider audience to engage with this important historical document. The publication of T.K. Whitaker's Memoir : Central Bank and Government, 1969-1976 marks 110 years since T.K. Whitaker’s birth and 50 years since the end of his ...

Sectors:
Banking & Credit
Topics:
Technology & CyberMarket Abuse / Surveillance
BankFintech
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🇮🇪 CBI Enforcement low

“Capital, Competition, and Complexity – regulatory perspectives on the regulatory debate” – Remarks by Deputy Governor Mary-Elizabeth McMunn

Introduction Good morning – I am delighted to be here, and many thanks to Brian and the BPFI for hosting us. 1 I very much look forward to the discussion, and to hearing from you all today, but before I do I would like to set out some reflections on a number of topics which are currently high on the regulatory agenda. While the discussion is multifaceted, and tied up with a regulatory cycle which has turned, an economic one which has become more challenging, not to mention a renewed focus by ...

Sectors:
Banking & CreditInvestment ManagementCapital Markets & TradingPayments & E-MoneyCrypto & Digital AssetsConsumer Credit
Topics:
AML / Financial CrimeConsumer Protection / ConductPrudential / Capital Requirements
Operational Resilience / OutsourcingESGTechnology & CyberMarket Abuse / SurveillanceReporting & DisclosureAuthorisation & Licensing
All Firms
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🇮🇪 CBI Speech

Central Bank publishes research on the Irish lending market and reinforces importance of capital and resilience

Central Bank loan-level research shows the Irish lending market is significantly less concentrated when considering the full diversity of lenders. Robust capital and liquidity positions have served the sector well – with the evidence not supporting a lowering of overall levels of resilience on the basis of bank credit, profitability or international competitiveness. Central Banks best serve these broader objectives related to productivity and growth by delivering on their core mandates, effec...

Sectors:
Banking & CreditCapital Markets & TradingPayments & E-MoneyConsumer Credit
Topics:
Consumer Protection / ConductPrudential / Capital RequirementsTechnology & Cyber
Market Abuse / SurveillanceReporting & Disclosure
Bank
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🇮🇪 CBI Speech

From Washington to Frankfurt via Dublin: policy priorities in an uncertain world

I was in Washington for the Spring Meetings of the International Monetary Fund (IMF) two weeks ago and this week I was in Frankfurt at the latest meeting of the ECB Governing Council, to decide interest rates to achieve our price stability target of 2 per cent inflation over the medium term. I wanted to use this blog to offer some reflections on both meetings. Inevitably the war in the Middle East cast a shadow over both meetings. Uncertainty about the global outlook dominated the discourse: ...

Sectors:
Banking & CreditCapital Markets & TradingPayments & E-Money
Topics:
Consumer Protection / ConductPrudential / Capital RequirementsOperational Resilience / Outsourcing
Technology & CyberMarket Abuse / Surveillance
All Firms
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🇮🇪 CBI Enforcement critical

Remarks by Director of Horizontal Supervision, Patricia Dunne to the European Anti-Financial Crime Summit, Dublin

Safeguarding Financial Integrity – Central Bank of Ireland’s Approach to Financial Crime Prevention Thank you for the invitation to speak at today’s event. This is an important opportunity for us to engage and share our experiences and approaches to deal with the global challenges and issues we are facing in financial crime. Change, instability, flux, unpredictability - all words that I guarantee you will hear on multiple occasions throughout the day’s events. I will not be any different. We ...

Sectors:
Banking & CreditInvestment ManagementCapital Markets & TradingPayments & E-MoneyCrypto & Digital Assets
Topics:
AML / Financial CrimeConsumer Protection / ConductOperational Resilience / Outsourcing
ESGTechnology & CyberMarket Abuse / SurveillanceReporting & DisclosureSenior Managers / Governance
Bank
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🇮🇪 CBI Warning

Vigilance and Resilience - Strengthening Credit Unions in a Changing Landscape - Remarks by Domhnall Cullinan at ILCU Annual Conference

Good morning. Brendan, thank you for the warm introduction. It is a pleasure to join you at the ILCU Internal Audit Services Conference. I also want to thank Barry Harrington for the invitation to address you here today. 1 When I addressed the ILCU Annual Conference last April, I spoke about a time of transformative change for credit unions, a period that would bring both significant opportunities and important challenges. 2 One year on, we can see that transformation taking shape. A revised ...

Sectors:
Banking & CreditCapital Markets & TradingPayments & E-MoneyMortgage & Lending
Topics:
AML / Financial CrimeConsumer Protection / ConductPrudential / Capital Requirements
Operational Resilience / OutsourcingESGTechnology & CyberMarket Abuse / SurveillanceSenior Managers / Governance
All Firms
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🇮🇪 CBI Enforcement critical

New Central Bank research reveals one in three Irish adults have experienced fraud, yet 38% never report it

More than one in three Irish adults (35%) have experienced fraud or scams. 38% of fraud victims never reported their experience to their financial service provider or any authority. Research identified risky online behaviours as the single strongest predictor of fraud experience—more influential than age, income, or education level. Fraud victims are far more likely to recover monies when the fraud is reported. Fraud literacy reduces predicted fraud exposure Central Bank of Ireland of Ireland...

Sectors:
Banking & CreditPayments & E-Money
Topics:
Consumer Protection / ConductTechnology & CyberReporting & Disclosure
Bank
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🇮🇪 CBI Enforcement high

Central Bank statement on High Court judgment

Today, the High Court published its written judgment in the matter of the Central Bank’s application under the Fitness & Probity Regime to confirm the one-year prohibition issued to a senior executive on 02 February 2022 concerning his role in a regulated firm in the investment fund and asset management sector. The decision of the High Court was to refuse the application. The Central Bank acknowledges the importance of the Court’s findings and the clarity that the judgment provides in this ca...

AI Analysis

The Central Bank of Ireland (CBI) issued a statement on 17 April 2026 acknowledging a High Court judgment refusing to confirm a one-year prohibition on a senior executive in the investment fund and asset management sector due to inadequate fair procedures during the CBI's Fitness & Probity (F&P) investigation. This matters for compliance professionals as it underscores the critical need for robust fair procedures in F&P processes and highlights recent legislative and guidance enhancements under the Individual Accountability Framework (IAF) Act 2023 to address such shortcomings. Firms must prioritize these updates to mitigate enforcement risks.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Investment ManagementWealth & Private BankingCapital Markets & Trading
Topics:
Senior Managers / GovernanceAuthorisation & Licensing
Asset ManagerWealth ManagerHedge Fund
All Firms
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🇮🇪 CBI Enforcement medium

Clarus IV ICAV (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Firm

Warning: Unauthorised Investment Firm / Unauthorised Investment Business Firm / Unauthorised Irish Collective Asset-Management Vehicle (ICAV) Unauthorised Firm Name Clarus IV ICAV (CLONE) Website https://www.clarusiv.com/ Email addresses used enquiries@clarusiv.com accounts@clarusiv.com michael.granger@clarusiv.com Phone number used +353 1525 9660 Authorisation in Ireland Clarus IV ICAV (Clone) is not authorised to provide investment services in Ireland. Additional Information This firm clone...

AI Analysis

The Central Bank of Ireland (CBI) has issued a warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013 regarding **Clarus IV ICAV (CLONE)**, an unauthorised entity cloning a legitimate authorised ICAV to perpetrate investment scams. This matters for compliance professionals as it underscores rising clone firm risks in Ireland's investment sector, requiring vigilance to protect clients and avoid facilitation of scams.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Investment Management
Topics:
Authorisation & LicensingConsumer Protection / ConductAML / Financial Crime
Asset ManagerAll Firms
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🇮🇪 CBI Enforcement medium

Pimco Global Wealth (Clone) - Central Bank of Ireland Issues Warning on Unauthorised Firm

Warning: Unauthorised Investment Firm / Investment Business Firm Unauthorised Firm Name Pimco Global Wealth / Pimco (Ireland) (Clone) Websites www.pimcoglobalwealth.com www.pimcoprivatewealth.com www.pimcoprivateclients.com www.pimcoglobaladvisors.com Email address used admin@pimcoglobalwealth.com Phone numbers used +353 1 912 8604 +353 1 531 4593 Authorisation in Ireland This firm is not authorised to provide investment services in Ireland. Additional information Pimco Global Wealth / Pimco ...

AI Analysis

The Central Bank of Ireland (CBI) issued a warning notice on 17 April 2026 under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, identifying "Pimco Global Wealth / Pimco (Ireland) (Clone)" as an unauthorised investment firm impersonating the legitimate authorised entity Pimco Global Advisors (Ireland) Limited by cloning its name, CRO number, and address. This matters for compliance professionals as it underscores rising cloning scams targeting Irish consumers, requiring firms to enhance client vigilance, scam monitoring, and public communications to mitigate reputational and conduct risks.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Investment ManagementWealth & Private Banking
Topics:
Consumer Protection / ConductAuthorisation & Licensing
Asset ManagerWealth ManagerAll Firms
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🇮🇪 CBI Enforcement medium

Finance Advice Help- Central Bank of Ireland Issues Warning on Unauthorised Firm

Warning: Unauthorised Retail Credit Firm Unauthorised Firm Name Finance Advice Help Website Financeadvicehelp.com Email address used contact@financeadvicehelp.com Authorisation in Ireland Finance Advice Help is not authorised to provide retail credit services in Ireland. Notes: Any person wishing to contact the Central Bank with information regarding such firms / persons may telephone (01) 224 5800 or report an unauthorised firm directly to the Central Bank . For more information on how to pr...

AI Analysis

The Central Bank of Ireland (CBI) has issued a warning notice under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, identifying "Finance Advice Help" (website: financeadvicehelp.com; email: contact@financeadvicehelp.com) as an unauthorised firm providing retail credit services in Ireland. This matters for compliance professionals as it underscores CBI's proactive enforcement against unauthorised entities, heightening risks of consumer scams and potential liability for authorised firms if clients inadvertently engage with clones or similar frauds.[Source URL: https://www.centralbank.ie/news/article/finance-advice-help--central-bank-of-ireland-issues-warning-on-unauthorised-firm]

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Consumer CreditBanking & CreditMortgage & Lending
Topics:
Authorisation & LicensingConsumer Protection / ConductAML / Financial Crime
BankFintechAll Firms
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🇮🇪 CBI Speech

Central Bank of Ireland publishes financial stability assessments of the non-bank sector

A financial stability assessment of Irish hedge funds concludes that the diversity of the sector, and its modest market footprint, limit systemic vulnerabilities. A separate assessment focused on open-ended funds shows that the availability of tools to manage liquidity is now widespread, but with further scope to increase use. Strengthening the financial stability lens in the regulation of the non-bank sector has been – and continues to be – a priority for the Central Bank. Speaking at an Iri...

Sectors:
Investment ManagementBanking & Credit
Topics:
Prudential / Capital RequirementsOperational Resilience / Outsourcing
Asset ManagerBank
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🇮🇪 CBI Speech medium

Minding the Tails: Safeguarding Resilience of Non-Bank Finance – Speech by Deputy Governor Vasileios Madouros

Good morning. I am delighted to join you here this morning – and thank you to Irish Funds for organising this event. 1 As you know, a key part of our job at the Central Bank of Ireland is to focus on ‘tail risks’. Not just what we expect will happen, but what could happen. And the range of possible outcomes that could happen has recently widened considerably. What might have been considered close to unthinkable a few years ago, is no longer so. Unpredictable geopolitical developments – includ...

Sectors:
Investment ManagementCapital Markets & Trading
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingMarket Abuse / Surveillance
Asset ManagerHedge Fund
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🇮🇪 CBI Guidance high

Central Bank – Targeted Amendment to Mortgage Measures for Principal Home Bridging Loans

The Central Bank of Ireland today announced details of a targeted amendment to the mortgage measures that will exempt certain principal home bridging loans from the Loan-to-Income (LTI) limit . The Loan-to-Value (LTV) limit will continue to apply to these products, and all other elements of the mortgage measures remain unchanged. The amendment recognises that bridging finance products are a feature of the evolving Irish mortgage market and ensures that the regulatory framework adapts appropri...

AI Analysis

The Central Bank of Ireland (CBI) has announced a targeted amendment exempting certain principal home bridging loans from the Loan-to-Income (LTI) limit while retaining the Loan-to-Value (LTV) limit and all other mortgage measures unchanged, recognizing bridging finance as a growing market feature repaid via property sale proceeds rather than income. This matters for compliance professionals as it enables lenders to offer these short-term products (max 18 months) without LTI constraints, but requires reinforced underwriting, consumer protection, and ongoing CBI monitoring to maintain lending standards.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Banking & CreditMortgage & Lending
Topics:
Prudential / Capital RequirementsConsumer Protection / Conduct
BankAll Firms
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🇮🇪 CBI News high

Future-proofing Europe’s financial system

In his latest blog, Governor Gabriel Makhlouf argues that central banks must modernise their digital infrastructure and regulatory frameworks to ensure that central bank money remains the stable foundation of Europe's financial system whilst enabling private sector innovation in a digitally transformed ecosystem.

Sectors:
Banking & CreditPayments & E-MoneyCrypto & Digital Assets
Topics:
Technology & CyberPrudential / Capital RequirementsConsumer Protection / Conduct
BankFintechCrypto Exchange
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🇮🇪 CBI Speech medium

Inflation, Growth, and Monetary Policy in a Fractured World – Speech by Gabriel Makhlouf Governor, Central Bank of Ireland at MNI Connect

Good morning. Ongoing events in the Middle East are a stark reminder of the challenges policy makers face in a world increasingly characterised by geoeconomic fragmentation. For central banks tasked with preserving price stability, supply shocks pose both analytical and strategic challenges: understanding their persistence, their impacts on supply chains, and their effects on inflation and growth; and determining how to respond when supply and demand move in opposite directions. My speech tod...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingESG
BankAsset ManagerWealth Manager
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🇮🇪 CBI Enforcement medium

Indefinite Prohibition issued to Nicholas (Nick) Buckley in respect of all controlled functions, effective from 25 February 2026

The Prohibition Notice (PDF) issued after Mr Buckley signed a Statement of Undisputed Facts, in which he accepted that between 1 February 2021 and 12 December 2023, while he was employed at two different retail intermediaries, he issued invoices to clients directing payment to his personal bank account in place of his employers’ bank details. Mr Buckley also accepted that he misrepresented his financial qualifications to clients during the course of his employment. The Prohibition Notice issu...

AI Analysis

The Central Bank of Ireland (CBI) has issued an indefinite prohibition to Nicholas (Nick) Buckley from all controlled functions, effective 25 February 2026, following his admission of diverting client payments to his personal account and misrepresenting financial qualifications while at two retail intermediaries from 1 February 2021 to 12 December 2023. This enforcement action underscores the CBI's commitment to the Fitness and Probity Regime, emphasizing integrity in customer-facing roles to maintain public trust. Compliance professionals should note it as a precedent for severe sanctions on dishonesty, potentially influencing vetting and monitoring practices.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Effective Date: 25 February 2026
Sectors:
Consumer CreditInsurance & PensionsMortgage & Lending
Topics:
Consumer Protection / ConductSenior Managers / GovernanceAuthorisation & Licensing
Wealth ManagerBroker DealerAll Firms
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🇮🇪 CBI Speech

Opening Remarks by Governor Gabriel Makhlouf for the Savings and Investment Forum

Good morning and welcome to Central Bank of Ireland. Thank you for joining us for this inaugural gathering of the Savings and Investment Forum. I want to extend a particular welcome to the Tánaiste. Today marks an important milestone. The Department of Finance's 2024 Funds Review recognised the importance of enabling more retail investment in Ireland. It recommended establishing this Forum to address that challenge and today provides a timely opportunity to do so. Let me place this initiative...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Consumer Protection / ConductPrudential / Capital RequirementsReporting & Disclosure
BankWealth ManagerAsset Manager
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🇮🇪 CBI News

Central Bank of Ireland launches commemorative coin honouring playwright Seán O'Casey

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...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Consumer Protection / ConductReporting & DisclosureAuthorisation & Licensing
BankWealth ManagerAll Firms
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🇮🇪 CBI Enforcement low

Remarks by Governor Makhlouf at the launch of the commemorative coin honouring Seán O’Casey, Abbey Theatre, Dublin

Good morning everyone. It is a pleasure to join you today at the Abbey Theatre. We are here, of course, to launch a commemorative coin to honour Seán O’Casey, one of Ireland’s most important literary figures, and one whose voice continues to resonate profoundly, both in Ireland and internationally. I am delighted to welcome Shivaun O’Casey, Seán O’Casey’s daughter. It is particularly fitting to mark this occasion in her presence. Thank you to the Abbey Theatre for hosting us here today, a pla...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
AML / Financial CrimeConsumer Protection / ConductPrudential / Capital Requirements
BankWealth ManagerAsset Manager
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🇮🇪 CBI News low

Central Bank Appointments

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...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsSenior Managers / GovernanceAuthorisation & Licensing
BankWealth Manager
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🇮🇪 CBI News medium

Governor Gabriel Makhlouf Calls for Genuine Single Market to Mobilise Europe’s Savings

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.

Sectors:
Banking & CreditInvestment ManagementCapital Markets & Trading
Topics:
Prudential / Capital RequirementsConsumer Protection / ConductMarket Abuse / Surveillance
BankAsset ManagerWealth Manager
View Original
🇮🇪 CBI Speech

Bridge to the Future: Mobilising Europe's Savings in a Fragmenting World - Speech by Governor Gabriel Makhlouf at Eurofi

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 ...

Sectors:
Banking & CreditInvestment ManagementCapital Markets & Trading
Topics:
Prudential / Capital RequirementsConsumer Protection / ConductTechnology & Cyber
BankAsset ManagerBroker Dealer
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🇮🇪 CBI News high

Quarterly Bulletin No.1 2026: Renewed surge in international energy prices tests domestic economic resilience

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...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingESG
BankAsset ManagerWealth Manager
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🇮🇪 CBI Enforcement high

Remarks by Deputy Governor Colm Kincaid to Central Bank of Ireland’s Consumer Protection Workshop – Consumer Protection at the Heart of Our Mission

Good afternoon and welcome to this Central Bank of Ireland workshop on the Consumer Protection Code. Today I will focus on the outlook for consumers and investors. But first let me pause to talk a little about the broader context in which we find ourselves. We are living through a period marked by extraordinary change, geopolitical instability, rapid technological transformation and shifting economic conditions. Governor Makhlouf summarised this well when he said how 2026 has already seen ext...

AI Analysis

Deputy Governor Colm Kincaid's speech on 24 March 2026 emphasizes consumer protection as central to the Central Bank of Ireland's (CBI) mission amid geopolitical, technological, and economic changes, highlighting the revised **Consumer Protection Code 2025** (CPC 2025) as a key modernization effort. This matters for compliance professionals because the CPC 2025 introduces enhanced, digitally-focused protections effective **24 March 2026**, replacing the 2012 Code after a 12-month implementation period, with firms required to proactively secure customer interests.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Banking & CreditInsurance & PensionsPayments & E-MoneyConsumer CreditMortgage & Lending
Topics:
Consumer Protection / ConductOperational Resilience / OutsourcingTechnology & Cyber
BankInsurancePayment Provider
All Firms
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🇮🇪 CBI Warning medium

How the Consumer Protection Code Secures Your Interests

The Central Bank of Ireland today (Tuesday 24 March 2026) marked the coming into force of the modernised Consumer Protection Code, giving consumers stronger protections when using banks, insurance companies, and other financial services. The modernised Code has been designed to better protect consumers in today’s world, and in anticipation of how financial services will evolve into the future. It follows extensive public consultation and engagement. Deputy Governor Colm Kincaid said: "The Cen...

Sectors:
Banking & CreditInsurance & PensionsConsumer Credit
Topics:
Consumer Protection / ConductOperational Resilience / OutsourcingReporting & Disclosure
BankInsuranceAll Firms
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🇮🇪 CBI News high

What the (latest) Middle East conflict means for inflation, growth, and monetary policy in Europe

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.

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingESG
BankAsset ManagerWealth Manager
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🇮🇪 CBI Speech

Opening Statement by Colm Kincaid, Deputy Governor of Central Bank of Ireland at the Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach

Role of Non-Bank Entities in the Irish Housing Market regarding residential mortgages Go raibh maith agat a Chathaoirligh agus gabhaim buíochas leis an gcoiste as ucht an cuireadh a bheith anseo inniú. I am joined by my colleagues Domhnall Cullinan, Director of Banking and Payments, and Aisling Menton, Head of Retail Credit and we welcome the opportunity to continue this important discussion on the role of non-bank entities in the Irish mortgage market. As outlined in updated figures we publi...

Sectors:
Banking & CreditMortgage & Lending
Topics:
Consumer Protection / ConductPrudential / Capital Requirements
BankFintechAll Firms
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🇮🇪 CBI Warning medium

Remarks by Gerry Cross, Director of Capital Markets & Funds - CASP Industry Briefing

Introduction Good morning. I am delighted to welcome you to Central Bank of Ireland today as part of our continued engagement with the crypto sector. This time last year we hosted an industry briefing focused on the path to success in the authorisation of Crypto-Asset Service Providers (CASPs). It has been a very active 12 months, and today I see many of you in the room from newly authorised CASPs who have come through the process successfully. This morning’s event is an excellent opportunity...

Sectors:
Crypto & Digital Assets
Topics:
Authorisation & LicensingOperational Resilience / OutsourcingConsumer Protection / Conduct
Crypto ExchangeFintech
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🇮🇪 CBI Enforcement high

“Regulating with purpose – outcomes-focused regulation and supervision, a practitioner’s perspective” – Remarks by Deputy Governor McMunn at Outcomes-focused Regulation in Financial Services conference, University College Dublin (UCD)

Good morning everyone, I am delighted to be here for what looks set to be an interesting conference on a topic which is both very close to my heart and central to what we do at Central Bank of Ireland (“the Central Bank”) – as we work to deliver on our mission, and in particular ensuring the financial system is operating in the best interests of consumers and the wider economy. 1 I am particularly delighted to be back in UCD – where I had the pleasure to study economics as an undergraduate, w...

AI Analysis

This speech by Deputy Governor Mary Elizabeth McMunn outlines the Central Bank of Ireland's (CBI) shift toward **outcomes-focused regulation and supervision**, emphasizing five key priorities from the 2026 Regulatory and Supervisory Outlook (RSO) to address geopolitical risks, consumer protection, technology, and resilience in a volatile environment. It matters for compliance professionals as it signals intensified CBI scrutiny on firm behaviors and outcomes rather than mere rule compliance, with direct implications for supervisory engagements, thematic reviews, and enforcement across banking, funds, insurance, and payments sectors.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Banking & CreditCapital Markets & TradingInsurance & Pensions
Topics:
Consumer Protection / ConductOperational Resilience / OutsourcingTechnology & Cyber
BankAsset ManagerInsurance
View Original
🇮🇪 CBI Consultation medium

Central Bank of Ireland Launches Discussion Paper on Tokenisation and Distributed Ledger Technology in Financial Services

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 ...

AI Analysis

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/ )

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Investment ManagementCapital Markets & TradingCrypto & Digital AssetsPayments & E-Money
Topics:
Technology & CyberOperational Resilience / OutsourcingAuthorisation & Licensing
Asset ManagerBankFintech
Payment ProviderCrypto Exchange
View Original
🇮🇪 CBI Warning high

Central Bank welcomes publication of OECD Consumer Finance Risk Monitor

New OECD report highlights financial scams as top threat to consumers globally Deputy Governor of the Central Bank of Ireland Colm Kincaid welcomed the publication of the OECD’s Consumer Finance Risk Monitor 2026 , a comprehensive global assessment examining consumer protection challenges across 60 international jurisdictions. Deputy Governor Kincaid emphasised the need for strengthened oversight as structural economic, technological and market-conduct risks converge to significantly elevate ...

Sectors:
Banking & CreditConsumer CreditPayments & E-Money
Topics:
Consumer Protection / ConductTechnology & Cyber
BankFintechPayment Provider
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🇮🇪 CBI Enforcement high

Central Bank sets out its regulatory and supervisory priorities against the backdrop of geoeconomic shifts and accelerating technological changes that are reshaping the financial system

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...

AI Analysis

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/]

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Banking & CreditInvestment ManagementInsurance & Pensions
Topics:
Operational Resilience / OutsourcingConsumer Protection / ConductTechnology & Cyber
BankAsset ManagerAll Firms
View Original
🇮🇪 CBI Speech medium

Central Bank of Ireland publishes first access to cash report

The Central Bank of Ireland has today (24 February) published its first quarterly Access to Cash report . The Finance (Provision of Access to Cash Infrastructure) Act 2025 has put in place a framework to ensure sufficient and effective access to cash across the State. Today’s report uses newly collected data to show the number, location and opening hours of ATMs and cash service points across eight geographical regions in Ireland, as of 31 December 2025. The Minister for Finance set the acces...

Sectors:
Banking & CreditPayments & E-Money
Topics:
Consumer Protection / ConductReporting & Disclosure
BankPayment Provider
View Original
🇮🇪 CBI Speech

Central Bank Independence is an anchor for stability, not a shield - Makhlouf

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...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingAuthorisation & Licensing
BankAsset ManagerWealth Manager
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🇮🇪 CBI Enforcement medium

Institutions, Anchors, and Their Discontents: The Role of Central Banks - Speech by Governor Gabriel Makhlouf to Blavatnik School of Government

It is a pleasure to be here in Oxford 1 While I’m aware that this is a school of government and I’m a central banker, the two are inextricably linked. Societies and indeed economies are shaped by their institutions, specifically the legal, social, cultural, formal and informal norms that impact the way citizens interact with each other. Successful institutions are those that are trusted by the societies that created them and for which they ultimately serve. Today I am going to resist the oppo...

AI Analysis

Governor Gabriel Makhlouf's speech at the Blavatnik School of Government addresses central bank independence as a foundational institutional mechanism for delivering price stability and economic prosperity, rather than as a shield from accountability. The speech is not a regulatory enforcement action or new requirement, but rather a governance statement clarifying the Central Bank of Ireland's institutional philosophy on independence, credibility, and accountability—matters that directly affect how the CBI exercises supervisory discretion over regulated firms.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Banking & CreditCapital Markets & TradingPayments & E-Money
Topics:
Senior Managers / GovernanceOperational Resilience / OutsourcingPrudential / Capital Requirements
BankAsset ManagerPayment Provider
All Firms
View Original
🇮🇪 CBI Speech medium

Increasing investment sustainably is key for Irish economy - Central Bank of Ireland Deputy Governor Vasileios Madouros

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 ...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
ESGPrudential / Capital RequirementsReporting & Disclosure
BankAsset ManagerWealth Manager
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🇮🇪 CBI Speech medium

Enabling a decade of higher investment – Speech by Deputy Governor Vasileios Madouros at TU Dublin

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...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingESG
BankAsset ManagerWealth Manager
View Original
🇮🇪 CBI Enforcement medium

Reinforcing Resilience, Responding to Change: Priorities for the Year Ahead - Speech by Governor Gabriel Makhlouf to Head of EU Missions

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...

AI Analysis

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

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Banking & CreditInvestment ManagementInsurance & Pensions
Topics:
Operational Resilience / OutsourcingPrudential / Capital RequirementsSenior Managers / Governance
BankAsset ManagerInsurance
View Original
🇮🇪 CBI Speech high

Building economic resilience is not optional - Central Bank of Ireland Governor Gabriel Makhlouf

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...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingESG
BankAsset ManagerWealth Manager
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🇮🇪 CBI News medium

A Steady Hand: why the Governing Council held rates at 2 per cent this week

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.

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsConsumer Protection / ConductReporting & Disclosure
BankAsset ManagerWealth Manager
View Original
🇮🇪 CBI Speech

The role of economics during times of major change

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.

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingTechnology & Cyber
BankAsset ManagerWealth Manager
View Original
🇮🇪 CBI News low

Central Bank of Ireland completes sale of Spencer Dock (East Wing) building to the Office of Public Works

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...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingReporting & Disclosure
BankAsset ManagerWealth Manager
View Original
🇮🇪 CBI News

Central Bank of Ireland and Banca d’Italia launch first joint Innovation Data Challenge

Central Bank of Ireland and Banca d’Italia are launching the Innovation Data Challenge 2026, a joint initiative designed to foster cutting-edge research and innovation in the retail payments sector. The Challenge reflects the shared commitment of the two Institutions to promoting applied research, international collaboration, and the responsible use of data and technology to shape the future of payments. The initiative brings together leading Irish and Italian universities, including Universi...

Sectors:
Payments & E-Money
Topics:
Technology & CyberAuthorisation & Licensing
FintechPayment Provider
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🇮🇪 CBI Enforcement medium

Speech by Gerry Cross, Director, Capital Markets and Funds, Central Bank of Ireland at Compliance Institute AGM - Supervising for success: some themes for a time of change

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...

AI Analysis

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.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Investment ManagementCapital Markets & TradingBanking & Credit
Topics:
Consumer Protection / ConductSenior Managers / GovernanceOperational Resilience / Outsourcing
Asset ManagerBankAll Firms
View Original
🇮🇪 CBI Warning high

Central Bank of Ireland Issues Warning on Unauthorised Firm – Fraudulent entity clones details of Irish registered company, Solunar Finance Holdings Limited

Solunar Finance Holdings Limited (Clone) – Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Consumer Protection / ConductAuthorisation & LicensingOperational Resilience / Outsourcing
BankWealth ManagerFintech
View Original
🇮🇪 CBI News

“The Year That Was and Will Be”

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.

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsReporting & DisclosureESG
BankAsset ManagerWealth Manager
View Original
🇮🇪 CBI News medium

Quarterly Bulletin 2025:4 Prudent ambition needed as multinational investment underpins more positive growth outlook

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...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingESG
BankAsset ManagerWealth Manager
View Original
🇮🇪 CBI Enforcement high

Public statement relating to Enforcement Action between Central Bank of Ireland and Philip Smith

Mr Philip Smith, former Chief Executive Officer (CEO) and Executive Director of RSA Insurance Ireland DAC disqualified for 13 years by the Central Bank of Ireland for his admitted participation in a breach of financial services law by RSAII On 1 December 2025 the Central Bank of Ireland reprimanded Mr Smith and disqualified him for 13 years from being a person concerned in the management of a regulated financial service provider for his participation in a breach by RSA Insurance Ireland DAC (...

AI Analysis

The Central Bank of Ireland (CBI) reprimanded and disqualified former RSA Insurance Ireland DAC (RSAII) CEO Philip Smith for 13 years from management roles in regulated financial service providers due to his admitted role in under-reserving large loss claims, breaching Article 13(1)(a) of the European Communities (Non-Life Insurance) Framework Regulations 1994 (S.I. No. 359/1994). This enforcement action underscores CBI's commitment to individual accountability for senior executives who circumvent controls, risking policyholder protection and firm solvency, as evidenced by RSAII's subsequent need for a major capital injection. It matters for compliance professionals as it demonstrates CBI's use of prolonged disqualifications and inquiries under the Administrative Sanctions Procedure (ASP) to deter governance failures in insurance firms.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Insurance & Pensions
Topics:
Senior Managers / GovernanceConsumer Protection / Conduct
InsuranceAll Firms
View Original
🇮🇪 CBI Speech

Economic Resilience: What Next? – Speech by Governor Gabriel Makhlouf at The Royal Irish Academy

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...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingESG
BankAsset ManagerWealth Manager
View Original
🇮🇪 CBI Enforcement high

Central Bank of Ireland publishes roadmap to deliver a more effective and efficient regulatory framework

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...

AI Analysis

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.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Banking & CreditInvestment ManagementInsurance & Pensions
Topics:
Authorisation & LicensingOperational Resilience / OutsourcingReporting & Disclosure
BankAsset ManagerInsurance
All Firms
View Original
🇮🇪 CBI Speech

Remarks at the Climate Risk and Sustainable Finance Forum – Governor Gabriel Makhlouf

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...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
ESGPrudential / Capital RequirementsOperational Resilience / Outsourcing
BankAsset ManagerWealth Manager
View Original
🇮🇪 CBI News

The Digital Euro: shaping the future while preserving trust

In this blog, Governor Gabriel Makhlouf writes about the development of the Digital Euro and how central banks foster trust and safety in the financial system and in the implementation of projects like the Digital Euro.

Sectors:
Banking & CreditPayments & E-MoneyCrypto & Digital Assets
Topics:
Consumer Protection / ConductPrudential / Capital RequirementsTechnology & Cyber
BankFintechCrypto Exchange
View Original
🇮🇪 CBI Consultation high

Central Bank of Ireland launches Access to Cash consultation

The Central Bank of Ireland has today (5 December) launched a public consultation on the implementation of our new Access to Cash responsibilities. Deputy Governor Vasileios Madouros said: “Amid a rapidly evolving payments landscape, the Central Bank of Ireland is committed to making sure that cash continues to be readily available as a means of payment. Today’s consultation is an important step towards the implementation of the Central Bank’s new responsibilities under the Access to Cash leg...

AI Analysis

The Central Bank of Ireland has launched a public consultation on implementing new **Access to Cash** responsibilities under the Finance (Provision of Access to Cash Infrastructure) Act 2025, which commenced on 30 June 2025. This consultation addresses two critical areas: identifying local deficiencies in cash infrastructure and establishing minimum ATM service standards. The initiative reflects regulatory commitment to ensuring cash remains readily available as payment preferences shift toward digital channels.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Banking & CreditPayments & E-Money
Topics:
Consumer Protection / ConductOperational Resilience / OutsourcingReporting & Disclosure
BankPayment Provider
View Original
🇮🇪 CBI Speech medium

The Macrofinancial effects of climate change in Ireland: What have we learned? – Speech by Deputy Governor Vasileios Madouros

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 ...

Sectors:
Banking & CreditInvestment ManagementInsurance & Pensions
Topics:
ESGPrudential / Capital RequirementsReporting & Disclosure
BankAsset ManagerInsurance
View Original
🇮🇪 CBI Enforcement high

The Central Bank takes enforcement action against Coinbase Europe Limited for anti-money laundering failures

The Central Bank of Ireland has fined Coinbase Europe Limited €21,464,734 for breaching its anti-money laundering and counter terrorist financing transaction monitoring obligations between 2021 and 2025. The Central Bank of Ireland (the Central Bank) has fined Coinbase Europe Limited (Coinbase Europe) €21,464,734 for breaching its anti-money laundering (AML) and combatting terrorist financing (CFT) obligations with respect to transaction monitoring as required by the Criminal Justice (Money L...

AI Analysis

The Central Bank of Ireland (CBI) fined Coinbase Europe Limited €21,464,734 for AML/CFT transaction monitoring failures under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (CJA 2010), involving over 30 million unmonitored transactions worth €176 billion from April 2021 to March 2025. This marks CBI's first enforcement against a crypto firm, highlighting regulators' focus on robust real-time monitoring and timely Suspicious Transaction Reporting (STR) for virtual asset service providers (VASPs). It matters as it sets a precedent for EU crypto compliance amid MiCA and AMLA implementation, signaling increased scrutiny and potential multimillion-euro penalties for similar lapses.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Payments & E-MoneyCrypto & Digital Assets
Topics:
AML / Financial Crime
Crypto ExchangeFintechPayment Provider
View Original
🇮🇪 CBI Warning high

Deutsche Bank Wealth Management (CLONE) / Deutsche Bank AG (CLONE) / DB UK Bank Limited (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Firm

Deutsche Bank Wealth Management (CLONE) / Deutsche Bank AG (CLONE) / DB UK Bank Limited (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Firm

Sectors:
Banking & CreditWealth & Private Banking
Topics:
AML / Financial CrimeConsumer Protection / ConductAuthorisation & Licensing
BankWealth Manager
View Original
🇮🇪 CBI Enforcement medium

Monument Financial Group - Central Bank of Ireland Issues Warning on Unauthorised Firm

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...

AI Analysis

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]

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Investment ManagementWealth & Private Banking
Topics:
Authorisation & LicensingConsumer Protection / Conduct
Wealth ManagerAll Firms
View Original
🇮🇪 CBI Speech medium

ECB Interest Rates

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...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsConsumer Protection / ConductReporting & Disclosure
BankAsset ManagerWealth Manager
View Original
🇮🇪 CBI Speech medium

The tangle of ageing populations and productivity growth - Governor Gabriel Makhlouf at Society of Professional Economists

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...

Sectors:
Banking & CreditInvestment ManagementWealth & Private Banking
Topics:
Prudential / Capital RequirementsOperational Resilience / OutsourcingTechnology & Cyber
BankWealth ManagerAsset Manager
View Original
🇮🇪 CBI Speech medium

Central Bank publishes Flood Protection Gap Report

The Central Bank of Ireland has today (Monday 14 October) published its Flood Protection Gap Report . Some homes and businesses in Ireland are unable to obtain flood cover. This means that when a flood occurs, there can be a shortfall between the actual cost of the flood and the portion of that cost that is covered by insurance. This is the flood protection gap. The occurrence of severe flooding could and does leave households and business with high levels of uninsured losses, and may create ...

Sectors:
Banking & CreditInsurance & PensionsConsumer Credit
Topics:
Prudential / Capital RequirementsESGReporting & Disclosure
BankInsuranceAll Firms
View Original
🇮🇪 CBI Consultation medium

Central Bank publishes feedback statement on macroprudential policy for investment funds

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.

AI Analysis

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.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Investment ManagementCapital Markets & Trading
Topics:
Prudential / Capital Requirements
Asset ManagerHedge Fund
View Original
🇮🇪 CBI Consultation high

Central Bank of Ireland introduces macroprudential measures for Irish-authorised GBP-denominated LDI funds

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.

AI Analysis

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.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Investment ManagementCapital Markets & TradingWealth & Private Banking
Topics:
Prudential / Capital RequirementsAuthorisation & LicensingOperational Resilience / Outsourcing
Asset ManagerHedge FundWealth Manager
View Original
🇮🇪 CBI Enforcement critical

Address by Director of Insurance Supervision, Domhnall Cullinan, to the Insurance Ireland-Milliman CRO Forum

I’d like to thank Insurance Ireland and Milliman for inviting me here today for this Chief Risk Officer (CRO) Forum. I’d like to use this opportunity to briefly reflect on the recent turmoil we’ve seen in the banking sector, what this might mean for (re)insurers, and to highlight some of our supervisory priorities going forward. Much commentary has already been devoted to the fallout from SVB and Signature Bank in the US, and to the acquisition of Credit Suisse by UBS. Whilst the exposure of ...

Sectors:
Banking & CreditInsurance & PensionsCapital Markets & TradingPayments & E-MoneyCrypto & Digital Assets
Topics:
AML / Financial CrimeConsumer Protection / ConductPrudential / Capital Requirements
Operational Resilience / OutsourcingESGTechnology & CyberMarket Abuse / SurveillanceReporting & DisclosureSenior Managers / Governance
BankInsurance
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🇮🇪 CBI Speech medium

“Review of the Consumer Protection Code: securing customers’ interests” - Remarks by Gerry Cross, Director of Financial Regulation – Policy & Risk at Insurance Ireland - KPMG Briefing Session

“Review of the Consumer Protection Code: securing customers’ interests” - Remarks by Gerry Cross, Director of Financial Regulation – Policy & Risk, Central Bank of Ireland at Insurance Ireland - KPMG Briefing Session: CBI Review of the Consumer Protection Code

Sectors:
Banking & CreditInsurance & Pensions
Topics:
Consumer Protection / ConductPrudential / Capital Requirements
BankInsurance
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🇮🇪 CBI Enforcement low

Insurance supervision in an uncertain environment - Remarks by Domhnall Cullinan, Director of Insurance Supervision, at Financial Services Ireland

Introduction Good morning everyone. Thank you for inviting me to speak here today. Before I begin, I’d like to acknowledge the important role played by Financial Services Ireland in advocating for its members, and in promoting the Irish financial services sector, both here and abroad. Whilst the respective missions we undertake are undoubtedly different, we have a shared interest in a strong and stable financial services sector. It is claimed that the phrase “may you live in interesting times...

Sectors:
Banking & CreditInvestment ManagementInsurance & PensionsCapital Markets & TradingPayments & E-MoneyCrypto & Digital Assets
Topics:
AML / Financial CrimeConsumer Protection / ConductPrudential / Capital Requirements
Operational Resilience / OutsourcingESGTechnology & CyberMarket Abuse / SurveillanceAuthorisation & LicensingSenior Managers / Governance
Insurance
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🇮🇪 CBI Enforcement medium

Central Bank of Ireland Issues Warning on Unauthorised Firm – Fraudulent entity clones authorised firm SEI Investments

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...

AI Analysis

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.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Investment ManagementWealth & Private BankingBanking & Credit
Topics:
Consumer Protection / ConductAML / Financial CrimeAuthorisation & Licensing
Asset ManagerWealth ManagerBank
All Firms
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🇮🇪 CBI Enforcement medium

Central Bank implements new Insurance Regulations

Ban on price walking in motor and home insurance comes into effect on 1 July 2022. New customer discounts not affected. For automatic renewals, better information and reminders to be provided to encourage switching. The Central Bank of Ireland has today published the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Insurance Requirements) Regulations 2022 which will apply to insurance undertakings and insurance intermediaries from 1 July 2022. The Central Bank identified d...

AI Analysis

The Central Bank of Ireland (CBI) published the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Insurance Requirements) Regulations 2022 on 15 March 2022, banning price walking in motor and home insurance from 1 July 2022 to eliminate loyalty penalties for renewing customers while preserving new customer discounts and competition. This matters for compliance professionals as it imposes immediate prohibitions on differential pricing, mandatory annual reviews, enhanced renewal disclosures, and record-keeping, with CBI emphasizing ongoing oversight to ensure fair consumer outcomes.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Effective Date: 1 July 2022
Sectors:
Insurance & Pensions
Topics:
Consumer Protection / Conduct
Insurance
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🇮🇪 CBI News

“Regulated firms must prioritise diversity at senior levels to prevent groupthink, promote internal challenge, and protect consumers and investors” - Derville Rowland, Director General, Financial Conduct

Gender diversity at senior levels in the regulated financial services sector is increasing but remains insufficient, according to the latest Central Bank of Ireland Demographic Analysis Report . The annual publication analyses applications to hold certain senior roles within regulated firms that require the Central Bank’s prior approval under the Fitness & Probity Regime. The Central Bank received more than 3,500 such applications for Pre-Approval Control Function (PCF) roles in 2021. This is...

Sectors:
Banking & Credit
Topics:
Consumer Protection / ConductTechnology & CyberMarket Abuse / Surveillance
Authorisation & LicensingSenior Managers / Governance
Bank
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🇮🇪 CBI Enforcement low

Central Bank publishes three Behind the Data papers examining the international activities of the Irish financial sector

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...

AI Analysis

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.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Banking & CreditInvestment ManagementInsurance & Pensions
Topics:
Reporting & DisclosurePrudential / Capital Requirements
BankAsset ManagerInsurance
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🇮🇪 CBI Speech medium

“Insurance firms require strong customer-focused cultures and Central Bank will intervene on practices unfair or potentially unfair to consumers” – Director General Derville Rowland

Differential Pricing and Business Interruption Insurance demonstrate Central Bank’s focus on conduct, culture and customer treatment Over €130 million paid in business interruption insurance claims to date Insurance sector needs to be prepared for the challenges ahead including digitisation and climate change Speaking at the Deloitte 2022 Insurance Industry Trends event Director General, Financial Conduct Derville Rowland discussed the position of the insurance sector in Ireland, the effect o...

Sectors:
Insurance & Pensions
Topics:
Consumer Protection / ConductPrudential / Capital RequirementsOperational Resilience / Outsourcing
Insurance
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🇮🇪 CBI Enforcement medium

Remarks by Director General, Financial Conduct Derville Rowland at the Deloitte Global Insurance Webinar

Remarks by Director General, Financial Conduct Derville Rowland at the Deloitte Global Insurance Webinar Good morning everybody and thank you to Deloitte for the invitation to speak at this webinar. Some people think of insurance as a relatively modern financial concept. But of course, as the insurance experts in this audience know, its origins can be traced all the way back to certain kinds of shipping loans in Babylon, through Ancient Rome and Greece, and into Medieval Europe. In the 17 th ...

Sectors:
Insurance & Pensions
Topics:
Consumer Protection / ConductPrudential / Capital RequirementsSenior Managers / Governance
Insurance
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🇮🇪 CBI Enforcement low

Central Bank proposes to end the loyalty penalty for private car and home insurance customers

Review finds that differential pricing practices can result in unfair outcomes for some consumers Proposal to ban the practice of ‘price walking’ to end the loyalty penalty for consumers who do not switch insurance provider regularly Proposals will ensure that new business discounts are still available to allow consumers to seek the best prices, while ensuring that those who remain with the same insurance provider are not penalized The Central Bank is proposing to ban the practice of price wa...

AI Analysis

The Central Bank of Ireland (CBI) proposes banning "price walking" in private car and home insurance to eliminate the loyalty penalty, where long-term customers pay significantly higher premiums (14% more for car, 32% more for home after 9 years) than new customers with similar risk profiles. This stems from a 2021 review finding differential pricing unfair to loyal or less mobile consumers, with regulations finalized and effective from 1 July 2022, confirmed effective in subsequent reviews. It matters as it enforces fair treatment under CBI's consumer protection mandate, requiring insurers to overhaul pricing models while preserving new customer discounts to maintain competition.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Insurance & Pensions
Topics:
Consumer Protection / Conduct
Insurance
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🇮🇪 CBI Enforcement low

Supervisory Priorities in Uncertain Times - Domhnall Cullinan, Director of Insurance Supervision

Introduction Good morning, and thank you for attending our Insurance Industry Event, the second of these which we’ve held virtually. Hopefully, as the vaccine rollout continues and restrictions are eased, there won’t have to be a third! The COVID 19 crisis has brought about a significant amount of change to all of our personal and professional lives, and with it has provided the opportunity to reflect on what is important, and where our priorities should lie. With this in mind, I would like t...

Sectors:
Banking & CreditInsurance & PensionsCapital Markets & TradingPayments & E-MoneyCrypto & Digital Assets
Topics:
AML / Financial CrimeConsumer Protection / ConductPrudential / Capital Requirements
Operational Resilience / OutsourcingESGTechnology & CyberMarket Abuse / SurveillanceSenior Managers / Governance
Insurance
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🇮🇪 CBI Enforcement high

The importance of fitness, probity and ensuring responsibility - Director General, Financial Conduct, Derville Rowland

Speech delivered at Institute of Directors’ Briefing Webinar on 10 June 2021 Good morning everyone, I am delighted to speak to you on the importance of effective culture in firms, the contribution fitness and probity can make, and how we see the forthcoming Individual Accountability Framework further reinforcing effective culture. I’ll come to each of those topics in turn. But first let me say that the Central Bank and the Institute of Directors have overlapping visions. The Central Bank serv...

AI Analysis

This 2021 speech by Derville Rowland, Director General of Financial Conduct at the Central Bank of Ireland (CBI), emphasizes the critical role of the Fitness & Probity (F&P) regime and the forthcoming Individual Accountability Framework (IAF) in fostering effective culture, governance, and individual responsibility in regulated firms. It matters because it signals CBI's supervisory priorities on senior role holders' competence, integrity, and accountability, which have since evolved into concrete regulatory updates, directly impacting board and compliance functions to mitigate conduct risks and ensure consumer protection. https://www.centralbank.ie/news/article/speech-importance-of-fitness-probity-and-ensuring-responsibility-derville-rowland-10-june-2021

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Banking & CreditInvestment ManagementInsurance & Pensions
Topics:
Senior Managers / GovernanceConsumer Protection / ConductAuthorisation & Licensing
BankAsset ManagerInsurance
All Firms
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🇮🇪 CBI Enforcement critical

Opening remarks at the 2020 Insurance Industry Briefing - Domhnall Cullinan, Director of Insurance Supervision

Opening remarks at the 2020 Insurance Industry Briefing Good morning everyone. I would like to thank you for attending today’s industry briefing. In my remarks this morning, I will take this opportunity to touch on: the role that insurance can play in society; some of the reasons why the industry in Ireland is negatively perceived; and the areas of supervisory focus for the Central Bank moving forward. 2020 has been an unprecedented year in so many respects and the emergence of COVID-19 has a...

Sectors:
Banking & CreditInsurance & PensionsCapital Markets & TradingPayments & E-Money
Topics:
AML / Financial CrimeConsumer Protection / ConductPrudential / Capital Requirements
Operational Resilience / OutsourcingESGTechnology & CyberMarket Abuse / SurveillanceReporting & DisclosureAuthorisation & LicensingSenior Managers / Governance
BankInsurance
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🇮🇪 CBI Enforcement critical

Introductory statement by Governor Gabriel Makhlouf at the Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Good afternoon Chairman, Committee members, I am joined by Ed Sibley, Deputy Governor, Prudential Regulation and Derville Rowland, Director General, Financial Conduct. We welcome the opportunity to appear before you today. The effects of the COVID-19 pandemic have been deep and distressing for our community. The actions taken to contain the health emergency have affected the economy and all of our lives. The Central Bank’s job is to ensure the financial system operates in the best interests o...

Sectors:
Banking & CreditInsurance & PensionsConsumer Credit
Topics:
Consumer Protection / ConductPrudential / Capital RequirementsReporting & Disclosure
BankInsuranceAll Firms
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🇮🇪 CBI Enforcement critical

Introductory statement by Derville Rowland, Director General, Financial Conduct, at the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach

I am joined today by Gráinne McEvoy, Director of Consumer Protection, and Domhnall Cullinan, Director of Insurance Supervision. Thank you for this opportunity to speak to you today about the Central Bank’s work in regulating and supervising the Irish insurance industry and specifically the practices of differential pricing and dual pricing. Insurance serves a critical role in the functioning of a modern society, through reducing uncertainty by protecting people and businesses against the risk...

Sectors:
Banking & CreditWealth & Private BankingInsurance & PensionsCapital Markets & Trading
Topics:
Consumer Protection / ConductPrudential / Capital RequirementsOperational Resilience / Outsourcing
ESGTechnology & CyberMarket Abuse / SurveillanceReporting & DisclosureSenior Managers / Governance
BankInsurance
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🇮🇪 CBI Speech medium

“Thriving in Challenging Times” - Central Bank Insurance Conference

Insurance conference explores challenges facing the insurance industry Introduction of proposed judicial guidelines on personal injury claims would bring stability to the cost of insurance Solvency II review in 2020 to ensure continued protection of policyholders and beneficiaries The Central Bank hosted a conference for the insurance industry today with the theme “ Thriving in Challenging Times ”. The conference brought together domestic and international thought-leaders and policy makers to...

Sectors:
Insurance & Pensions
Topics:
Prudential / Capital RequirementsConsumer Protection / Conduct
Insurance
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🇮🇪 CBI Enforcement medium

Enforcement Action: RSA Insurance Ireland DAC fined €3.5m

The Central Bank of Ireland imposes a fine of €3,500,000 on RSA Insurance Ireland DAC for regulatory breaches relating to large loss claims and accounting irregularities On the 18 December 2018, the Central Bank of Ireland (the “ Central Bank ”) reprimanded and fined RSA Insurance Ireland DAC (“ RSAII ” or the “ Firm ”) €3,500,000 in respect of serious breaches relating to the following: Failure to establish and maintain Technical Reserves in respect of all underwriting liabilities assumed by...

AI Analysis

The Central Bank of Ireland (CBI) fined RSA Insurance Ireland DAC (RSAII) €3.5 million in December 2018 for serious breaches involving failure to maintain adequate technical reserves, inadequate internal controls and accounting procedures, and weak governance, stemming from deliberate under-reserving of large loss claims from 2009 to 2013, which understated reserves by €78.2 million as of 30 September 2013. This enforcement action underscores the CBI's zero-tolerance stance on reserving practices that risk policyholder protection and financial stability, highlighting how governance failures enabled manipulation and led to a significant capital injection for RSAII. It matters for compliance professionals as it demonstrates ongoing CBI scrutiny, with related actions against individuals like former CEO Philip Smith (13-year disqualification in 2025) and a former actuary (5-year prohibition).

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Insurance & Pensions
Topics:
Prudential / Capital RequirementsSenior Managers / GovernanceReporting & Disclosure
Insurance
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🇮🇪 CBI News

New Data Series: Insurance Data – Solvency and Financial Condition Reports

The Central Bank of Ireland has today published a consolidated view of publically available data for insurance and reinsurance firms. Under new Solvency II regulations, firms must provide public disclosures. The public disclosures take the form of a Solvency and Financial Condition Report (SFCR), which firms produce on an annual basis. All Individual SFCRs from firms regulated by the Central Bank are available in a dedicated repository on the Central Bank’s website . This year the Central Ban...

Sectors:
Insurance & Pensions
Topics:
Prudential / Capital RequirementsReporting & Disclosure
Insurance
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🇮🇪 CBI Consultation high

Credit Reports now available

Following a satisfactory review of the data submitted by banks and credit unions, to the Central Credit Register, the initial enquiry phase has now commenced. This means that from today borrowers and lenders can request a copy of credit reports from the Central Credit Register. Data on mortgages, personal loans, credit cards and overdrafts, which is backdated to 30 June 2017, is live on the system and is incorporated into credit reports. From 30 September 2018 it will be compulsory for credit...

Sectors:
Banking & CreditConsumer CreditMortgage & Lending
Topics:
Reporting & DisclosureConsumer Protection / ConductAuthorisation & Licensing
BankPayment ProviderAll Firms
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🇮🇪 CBI Enforcement medium

Merrion Stockbrokers Limited fined €200,00 in respect of failings pursuant to the Fitness and Probity regime.

Settlement Agreement between the Central Bank of Ireland and Merrion Stockbrokers Limited Merrion Stockbrokers Limited fined €200,000 by the Central Bank of Ireland in respect of failings pursuant to the Fitness and Probity regime. On 12 December 2017, the Central Bank of Ireland (the ‘Central Bank’) fined Merrion Stockbrokers Limited (‘Merrion’) €200,000 and reprimanded it for a breach of section 21 of the Central Bank Reform Act 2010 (the ‘2010 Act’). Merrion has admitted this breach, which...

AI Analysis

The Central Bank of Ireland (CBI) fined Merrion Stockbrokers Limited €200,000 on 12 December 2017 for breaching section 21 of the Central Bank Reform Act 2010 by failing to implement adequate systems and controls under the Fitness and Probity (F&P) regime from 1 December 2011 to at least April 2015. This first-ever enforcement action against a firm for section 21 violations underscores firms' primary responsibility for ongoing due diligence on Controlled Functions (CFs) and Pre-Approval Controlled Functions (PCFs), signaling heightened CBI scrutiny on governance and accountability post-financial crisis.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Capital Markets & TradingInvestment ManagementWealth & Private Banking
Topics:
Senior Managers / GovernanceAuthorisation & Licensing
Broker DealerWealth ManagerAll Firms
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🇮🇪 CBI Enforcement low

Address by Professor Cormac O'Grada, School of Economics, UCD, to the Central Bank Whitaker Lecture

Five Crises Ábhar mór bróid dom an léacht seo a thabhairt in onóir an Dochtúra T.K. Whitaker. Agus mar bharr ar sin, é bheith i láthair anocht. It is a great honour to be asked to deliver this lecture in honour of Dr. Ken Whitaker, all the more so in his presence. Go maire sé an céad! Or even better, as the Yiddish saying goes, ‘biz hundert un tsvantsik’. Economic crises often prompt us to look backwards and, perhaps, to seek solace in parallels and precedents in the past. Just as rising unem...

AI Analysis

This 2011 Whitaker Lecture by Professor Cormac O'Grada, hosted by the Central Bank of Ireland (CBI), is an academic speech analyzing five historical economic crises in Ireland, including the Economic War, WWII Emergency, 1950s downturn, and others, to contextualize the post-2008 financial crisis. It lacks any regulatory changes, enforcement actions, or compliance mandates, serving instead as reflective economic history rather than a binding publication. Compliance professionals need not action it directly, but it offers historical perspective on crisis resilience relevant to risk management and governance discussions.

AI-generated analysis. May contain errors or omissions — verify with the original CBI source before acting. Full disclaimer.

Sectors:
Banking & Credit
Topics:
Prudential / Capital Requirements
Bank
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