Cyber risk in financial firms is a key concern – Central Bank Guidance   Risks associated with information technology and cybersecurity are a key concern for the Central Bank. New Guidance incorporates key findings from supervisory work carried out since 2015.  Firms must increase resilience to IT failures and cybersecurity incidents. The Central Bank has […]

Introduction Following several inspections, thematic reviews and ongoing supervisory engagements throughout the course of 2015 and 2016, the Central Bank of Ireland (the “Central Bank”) has on September 13, 2016 published Cross Industry Guidance in respect of Information Technology and Cybersecurity Risks (the “Guidance”). The Guidance applies to all regulated firms in Ireland and follows […]

Following significant engagement with the Central Bank, the Irish Funds Industry Association (IFIA) has concluded industry specific anti money laundering guidelines. It is important to note (see para 1 of the Sectoral Guidelines) that; These Guidelines should be read in conjunction with the published Core Guidelines on the prevention of the use of the financial […]