Financial Regulatory

Technical changes to the legislation underpinning the Financial Services and Pensions Ombudsman (FSPO) in light of a landmark Supreme Court ruling have been approved by the Oireachtas. The Financial Services and Pensions Ombudsman (Amendment) Bill 2023 was introduced in response to the Zalewski ruli

Revolut has been ordered by Lithuania's central bank to pay a €3.5 million fine for deficiencies in its anti-money laundering (AML) processes, its largest financial penalty to date. The Bank of Lithuania, which oversees Revolut's European banking operations alongside the European Central B

McCann FitzGerald has been recognised as Ireland's law firm of the year and Europe's best financial services regulatory practice at the 2025 IFLR Europe Awards in London. The prestigious awards  celebrate the legal industry’s most innovative work and honours the deals, teams, and firms th

The Central Bank of Ireland has published a "modernised" version of the Consumer Protection Code following an extensive review. The Consumer Protection Code outlines a set of rules and business standards that regulated financial firms must follow when dealing with consumers.

DLA Piper has appointed Chris Jessup as a partner in the firm's litigation and regulatory practice, specialising in financial services regulation. Mr Jessup will join DLA Piper in May 2025 from A&L Goodbody, where he was a partner and co-head of the fintech group, based in the firm's Belfast off

Lawyer-turned-banker Davinia Conlan has been appointed as chair of the Federation of International Banks in Ireland (FIBI) for a two-year tenure. Ms Conlan, a solicitor, spent over 16 years as a banking lawyer prior to her appointment in 2023 as country head for Citi Ireland, where she was previousl

Professor Niamh Moloney has been appointed to the UK's Prudential Regulation Committee (PRC) for a three-year term. The PRC takes the most important decisions of the Prudential Regulation Authority (PRA), one of the UK’s financial regulators.

New EU rules aimed at strengthening the IT security of financial entities such as banks, insurance companies and investment firms are finally here, write William Fry lawyers John O'Connor, Claire O'Connor and Conor Forde. While it may seem that we have been talking about the Digital Operational Resi

A public consultation has been launched on the implementation of EU rules developed in response to the 2007 financial crash. The Department of Finance is seeking views on the implementation of the Capital Requirements Directive VI which, together with the Capital Requirements Regulation III, finalis

The Central Bank of Ireland has established a dedicated fitness and probity unit. The fitness and probity regime is a critical element of financial regulation, protecting the public interest by ensuring that people who work in key positions in a financial firm are competent and capable, honest, ethi

The UK's Financial Conduct Authority (FCA) has been excoriated as "incompetent at best, dishonest at worst" in a new report from MPs and peers. The culmination of a three-year inquiry involving testimony from 175 individuals, the report highlights the FCA's failure to protect consumers and small bus

The Central Bank of Ireland has imposed a fine of over €320,000 on a payments company which breached EU regulations. BlueSnap Payment Services Ireland Limited breached the requirements of the European Union (Payment Services) Regulations 2018 (the PSR 2018) between January 2021 and December 202

The competitiveness of Ireland's booming funds and asset management sector could be boosted by introducing a new indirectly regulated product regime, according to Ogier. Indirectly regulated AIF products, which are attractive for private asset investment strategies, have enjoyed significant growth i

Volkswagen Finance has been ordered by a UK regulator to pay a fine of nearly £5.4 million as well as over £21.5 million in redress to around 110,000 customers after failing to treat customers in financial difficulty fairly. The Financial Conduct Authority (FCA) found that Volkswagen Fin

Business law firm Mason Hayes & Curran has appointed Conor Lynch as partner in its financial services team. Mr Lynch will be based in the firm's London office, where he will play a crucial role in advising both domestic and international banks, as well as financial institutions, on a wide array