Financial Regulatory

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

Arthur Cox lawyers Sarah Thompson, Robert Cain and Denise Murray explain significant changes at the Central Bank of Ireland. On 28 February 2025, the Central Bank of Ireland introduced its new supervisory approach which seeks to integrate conduct, integrity and prudential supervision.

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.

The Supreme Court has dismissed an appeal concerning the effect of consumer protection legislation on the activities of a ‘credit servicing’ firm. Delivering judgment for the Supreme Court, Mr Justice Gerard Hogan stated: “As the conduct of Cave Projects is not ex facie illegal, if

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

McCann FitzGerald partners Josh Hogan and Philip Murphy examine a recent English ruling concerning LIBOR's "tough legacy". The English High Court has published a judgment on how a LIBOR-referencing contract should be interpreted now that LIBOR is no longer published as a benchmark rate. The case (St

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

The Court of Appeal has set aside two decisions of the Financial Services and Pension Ombudsman (FSPO) which found that borrowers were entitled to revert to their tracker interest rates having moved to fixed interest rates. Delivering judgment for the Court of Appeal, Mr Justice Charles Meenan recog