Statement - Central Bank holds roundtable discussion with Irish financial sector stakeholders

16 December 2016 Press Release

On 15 December 2016, the Central Bank of Ireland held a roundtable discussion with Irish financial sector stakeholders. Topics discussed included the potential consequences for the sector of a British exit from the EU and current and emerging regulatory and supervisory issues.

On Brexit, Deputy Governor Cyril Roux said the Central Bank was seeing material levels of interest and activity in relation to authorisations sought for new businesses looking to relocate from the UK. The Central Bank's approach to authorisations in such cases is based on openness, transparency, engagement, and rigour and is intended to ensure that we continue to safeguard financial stability and protect consumers. Participants also exchanged views on the regulatory agenda for 2017.

The following stakeholders attended the Roundtable:

• Banking and Payments Federation Ireland
• Insurance Ireland
• Irish Funds
• Dublin International Insurance and Management Association
• Financial Services Ireland
• Irish Association of Investment Management
• Irish Brokers Association
• Professional Insurance Brokers Association
• Irish League of Credit Unions
• Credit Union Development Association
• Consumer Association of Ireland
• Fintech Ireland
• Department of Finance