Practice Areas

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Financial Regulation: Investigations and Enforcement

Our Financial Regulation Investigations and Enforcement team advises regulated entities and individuals on a wide range of investigation and enforcement issues involving the Central Bank of Ireland and the Financial Services & Pensions Ombudsman.

The team is led by lawyers from our Litigation & Dispute Resolution department specialising in contentious financial regulation and is supported by colleagues from our Financial Regulation Unit and from other relevant practice areas including, Banking & Finance, Asset Management & Investment Funds and Insurance.

Our clients include credit institutions, investment firms, regulated fund managers, investment funds, insurance and reinsurance firms, regulated fintechs, other financial institutions and directors, senior managers and other persons concerned in the management of those businesses.

Deirdre O’Donovan

Consultant

Hilary Rogers

Consultant

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Experience

We have significant experience advising clients on:

The first Inquiry pursuant to Part IIIC of the Central Bank Act 1942 concerning INBS and certain persons concerned its management.
Investigations and enforcement actions against retail banks as part of the Central Bank of Ireland’s industry-wide tracker mortgage examination.
The commencement of High Court proceedings challenging the use by the Central Bank of Ireland of its investigation and enforcement powers.
The rights and obligations arising from requests for individuals to attend interviews with the Central Bank of Ireland as part of investigations and enforcement actions under the Administrative Sanctions Procedures and the Fitness and Probity Regime and the preparation of individuals for those interviews.
Thematic inspections carried out by the Central Bank of Ireland and compliance with post-inspection reports and risk mitigation programmes.
Whether a regulated firm may be required to carry out an internal investigation and the conduct and governance of such internal investigations.
Notification of breaches and/or suspected breaches of relevant regulations which are subject to Central Bank of Ireland oversight.
Practice and procedure reviews, including those initiated following letters from the Central Bank of Ireland to industry (e.g. Dear CEO letters).
On-site inspections by the Central Bank of Ireland.
The identification, preservation and assertion of claims of legal professional privilege in the context of regulatory investigations and enforcement actions.