New Client Asset Regulations Published In The Irish Statute Book

• Published date: 06 February 2023
• Subject Matter: Finance and Banking, Financial Services
• Law Firm: Arthur Cox
• Author: Ms Sarah Thompson and Robert Cain

The new Irish client asset regulations have been published in the Irish Statute Book and will take effect from 1 July 2023. They are available here:

S.I. No. 10/2023 - Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Investment Firms) Regulations 2023

No additional changes have been made to the regulations as compared to the final form published last summer.

By way of reminder, the Central Bank of Ireland expects that investment firms and credit institutions will have already begun their preparations to ensure that they will be fully compliant with the new regulations at the end of the transitional period (1 July 2023 for investment firms and 1 January 2024 for credit institutions undertaking MiFID investment business).

The Central Bank's draft guidance highlighted that credit institutions subject to the client asset requirements for the first...