Settlement Procedure

The Central Bank Act 1942 (as amended) and the Securities Markets Regulations allow regulated financial service providers and persons presently or formerly concerned in their management who are subject to an investigation the option to enter into a settlement with the Central Bank.

The Central Bank's policy is to promote the option of early settlement however it must be satisfied that the basis for settlement is appropriate taking into account all relevant facts. These include the determination of the appropriate sanction, whether all concerns have been addressed to the Central Bank’s satisfaction and any other relevant considerations. The level of co-operation from the regulated entity/individual with the Central Bank during an investigation will also be relevant to settlement.

All settlements are voluntary.

Some frequently asked questions for regulated entities and individuals on the settlement procedure are set out below:

For further information in respect of the settlement procedure, reference should be made to Chapter Four of the Outline of the Administrative Sanctions Procedure 2018.