Regulatory Enforcement

The Regulatory Enforcement Group is a team of lawyers focused on providing a rapid response to clients in regulatory enforcement situations.  The team includes lawyers specialising in all areas of financial services, including banking, asset management and investment funds, insurance and pensions.  Lawyers practising in company law, competition law, litigation and data protection also support the Group’s work.

Our clients include State Authorities and Regulators, fund managers, investment funds, financial institutions, insurers and reinsurers, public companies and other businesses.  We advise on the full range of regulatory, compliance and enforcement issues.

We have unrivalled experience in advising clients on enforcement actions involving State Authorities including the Financial Regulator, the Director of Corporate Enforcement, the Financial Services Ombudsman, Data Protection Commissioner,  An Garda Síochána, the Takeover Panel and the Competition Authority.


We have a proven track record of supporting our clients in relation to:

  • inspections by the Financial Regulator under MIFID and the UCITS legislation and compliance with post-inspection reports
  • breaches of strategic and required solvency margin requirements by insurers and reinsurers
  • on-site inspections by the Financial Regulator
  • obligations of listed companies and brokers under the Market Abuse Legislation
  • inspections by the Director of Corporate Enforcement
  • compliance obligations of listed companies under the Transparency Regulations and Listing Rules
  • enforcement steps in relation to breaches of consumer credit legislation
  • investigations of public companies by the Takeover Panel
  • audits and actions by the Data Protection Commissioner
  • examinations and inquiries by the Financial Regulator
  • the Financial Regulator’s administrative sanctions procedure
  • breaches of notification to the Financial Regulator in respect of changes in qualifying holdings
  • investigations by the Competition Authority and European Commission

2015 - A Busy Year for Financial Regulatory Enforcement

Four settlement agreements entered into with the Central Bank in December alone

View all

We are consistently ranked as one of the leading Banking & Financial Services law firms in Ireland.


  •  William Fry's Banking department have been described by clients as "excellent to deal with. Their level of market knowledge is very high, and they are proactive at finding solutions to problems  and good at pushing the transaction to close." Other clients adds that they are "very knowledgeable and have the capability to manage large and complex transactions seamlessly," as well being "massively respected by the team on the other side of the transaction." The team is also known for being a "very well-resourced team, providing excellent turnaround times and always ensuring partner availability." Legal 500 2020
  • "Excellent and no weaknesses." says one interviewee IFLR 2020
  • A client states "The team that I primarily deal with are excellent. The team is partner driven, and I can always get access when needed. Their attention to detail is first class but they explain it in layman terms. They are very well regarded within the legal community, and this can be of huge assistance when negotiating and closing complicated deals." Another clients states: "William Fry (partners David Maughan and Mary Ward) provide unparalleled service on Irish law matters. Their advice is always on the spot, and they are always available. I only go to other firms if William Fry is conflicted from advising my client.". With another saying: "Very professional firm with a good team in place. Their strength is their people and breadth of experience on various projects." IFLR 1000 2019
  • "They are very easy to deal with, you can pick up the phone to any of them and they are quick to come back and respond, even on small queries. They are very thorough, client friendly and they put time into developing the relationship". An interviewee appreciated that "the client service was very strong, they had an excellent understanding of the transaction and they showed good responsiveness to requests". Chambers Europe 2019
  • One happy client says: "Their legal expertise, service levels and business-friendly approach sets them apart. I have recommended the team to other parties and continue to do so." Another source notes: "The firm is committed to its clients and develops strong relationships with them." Chambers Europe 2018
  • "They were very commercial on complex deals, extracted the important parts, were very proactive and made sure that nothing slipped away." Clients also point out that "they have a nice house style: professional, friendly and courteous." Chambers Europe, 2017 
  •  "The lawyers took a personal interest in the work and the overall objective was always in their minds. There was a big team offering a lot of strength throughout." 
    "This firm had the size and skills to handle a particularly complex transaction, and the commitment to throw the necessary resources at the job." Chambers Europe 2016
  • William Fry is an "excellent practice". Legal 500 EMEA 2016

Key Contacts

Shane Kelleher Partner

Garrett Breen Partner