Central Bank Identifies Key Focus Areas For Next Three Years

Author:Ms Orla O'Connor, Robert Cain and Maedhbh Clancy
Profession:Arthur Cox
 
FREE EXCERPT

The Central Bank of Ireland's Strategic Plan 2019-2021 sets out five key themes for the next three years, and highlights Brexit, and implementing a new approach to regulating financial conduct, as key focus areas.

The last three years have seen the establishment of the Central Bank as "the effective steward of the Irish financial system" as one of its key priorities. For 2019- 2021, while the Central Bank is focused on consolidating the policy framework that it implemented in recent years in response to the financial crisis, it also sees two of its biggest challenges as Brexit, and implementing a new approach to the regulation of financial conduct.

FIVE STRATEGIC THEMES

The five strategic themes identified by the Central Bank for 2019-2021 are:

Brexit Strengthening Consumer Protection Strengthening Resilience Engaging and Influencing Enhancing Organisational Capability Regarding Brexit, the Central Bank is focused on ensuring that the authorisation process for all firms is "robust and effective", while ensuring that the entities it regulates are prepared for Brexit and are protecting the best interests of their customers. One of its key priorities continues to be the mitigation of the immediate and longer- term risks posed by Brexit.

Regarding consumer protection, "robust" enforcement action, together with "intrusive and targeted" assessments of both regulated entities and their products, will continue to be a key focus...

To continue reading

REQUEST YOUR TRIAL