Dario Dagostino

Sep 5, 2024 | lexology.com | Dario Dagostino |Laura Mulleady

On 29 August 2024, the Central Bank of Ireland (the CBI) issued a Dear CEO letter to the insurance industry, detailing its findings following a recent targeted Consumer Protection Risk Assessment (CPRA) of insurance firms’ consumer protection risk management frameworks. The letter also sets out certain actions which insurance firms are required to take in the coming months. In this short publication, we look at the CBI’s findings and required actions.

Jun 11, 2024 | lexology.com | Chris Bergin |Patrick Brandt |Dario Dagostino |Mark Devane |James Grennan |Sarah Lee | +1 more

On 5 June 2024, the Central Bank of Ireland (Central Bank) published a new guidance document outlining practical guidance on the application process for individuals proposed to hold pre-approval controlled functions. The guidance applies to regulated financial service providers and in-scope holding companies. It sets out information on the technical aspects of submitting applications via the Central Bank’s IMAS portal, including information regarding access to, and tips for navigating, the portal.

May 22, 2024 | lexology.com | Dario Dagostino |Patrick Brandt |Mark Devane |Sarah Lee

The ECB has indicated that its Banking Supervision team will continue to assess banks’ progress in enhancing their internal audit function through peer benchmarking, sharing good practices and ongoing industry dialogue. In its most recent Supervision Newsletter, the European Central Bank (ECB) published an article outlining examples of good practices in banks’ internal audit functions that it has observed during extensive reviews over the past few years.

Dec 13, 2023 | lexology.com | Dario Dagostino |Mark Devane |Chloe Culleton |Patrick Brandt |Sarah Lee

The Central Bank of Ireland (CBI) has published updated Administrative Sanctions Procedure (ASP) Guidelines, together with a feedback statement on its Consultation on the draft ASP Guidelines initially issued in June this year. Our earlier guide on the proposed ASP reforms are here which will be updated shortly to address the finalised Guidance. The new ASP Guidelines consolidate and enhance the previous ASP Outline 2018, Inquiry Guidelines 2014 and ASP Sanctions Guidance 2019.

Nov 9, 2023 | lexology.com | Dario Dagostino |Mark Devane |Patrick Brandt |Christopher Martin |Sarah Lee |Duncan Inverarity | +9 more

Following the publication of the Central Bank’s draft Guidance on the Individual Accountability Framework (IAF) in March 2023 and the consultation process which closed in June 2023, it appears that publication of the final Guidance and the feedback statement on the Consultation is imminent and will be published next week.