The Central Bank of Ireland (the ‘CBI’) has published a plan setting out the CBI’s key strategic priorities for 2013 – 2015. The plan underpins the continued emphasis on consumer protection and financial stability.
The CBI’s focus is on eight high-level goals corresponding to its statutory objectives and EU and Eurosystem responsibilities. Key objectives outlined in the plan include the following:
- Restoring financial stability
- Supporting economic recovery
- Contributing to economic and regulatory policy in Ireland and internationally
- Protecting consumers
The Strategic Plan outlines the CBI’s regulatory approach and its strengthened legal mandate. Of particular interest to (re)insurers are:
- The highlighting of the Government’s proposals to enhance the CBI’s powers of enforcement, including applying increased penalties, further powers to issue directions and the establishment of a whistle-blowers framework
- An acknowledgment that full implementation of Solvency II by 1 January 2014 is unrealistic
Recommended Insights
Article and Insights
1
Feb 2024
William Fry is pleased to launch its Responsible Business Annual Report 2023.
Article and Insights
2
Feb 2024
We focus on the second batch of draft implementation measures announced by the Eur...
Partner
John O’Connor
Article and Insights
2
Feb 2024
The Supreme Court has refused leave to appeal from a decision rejecting John Delan...
Partner
Deirdre O’Donovan
Article and Insights
24
Jan 2024
The High Court recently dismissed a petition seeking the winding up of a biofuel c...
Partner
Fergus Doorly
prev
next