Regulatory Alerts2023-12-12
Administrative Sanctions Procedure Guidelines
The Central Bank of Ireland issued revised Administrative Sanctions Procedure Guidelines effective December 2023 to consolidate previous guidance and incorporate amendments from the Central Bank (Individual Accountability Framework) Act 2023. The document details the regulatory framework for investigating prescribed contraventions by firms and individuals, including procedures for evidence gathering, inquiries, and settlement options. It further establishes the criteria for determining sanctions, such as monetary penalties, and outlines the processes for High Court confirmation and appeals to the Irish Financial Services Appeals Tribunal.
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