Financial Services Regulatory Enforcement Newsletter – Quarter 4

This is our quarterly newsletter on financial services regulatory enforcement, where we provide you with updates on all regulatory and enforcement topics, from global trends to in depth advice on Irish-specific issues.

Enforcement Actions - Ireland

The Central Bank issued warning notices against five unauthorised investment firms during the fourth quarter of 2013. These warnings can be very damaging to the reputation of a firm and they have a knockon impact when applying for regulatory licences in other jurisdictions or when applying to be an approved person.

For further details please see: http://www.centralbank.ie/regulation/unauthorised-firms/pages/list-searchunath.aspx

There were nine enforcement sanctions issued against Irish regulated entities during the fourth quarter of 2013. There were a number of sanctions issued against insurance intermediaries for failing to have requisite professional indemnity in place.

For further information please see: http://www.centralbank.ie/publications/Pages/settlementagreements.aspx

The Central Bank's investigation of Custom House Capital was deferred to the Examiner's Court for further consideration on 27 January 2014.

For further...