Administrative Sanctions and the Prospectus Directive

Part 23 of the Companies Act 2014 and the European Union (Prospectus) Regulations 2019 provides powers for the Central Bank to impose administrative sanctions for prescribed contraventions of European Union (Prospectus) Regulations 2019 or Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 or Part 4 of the Central Bank (Investment Market Conduct) Rules 2019.

Appointment of Assessor(s)

Where the Central Bank has reason to suspect that a prescribed contravention of the European Union (Prospectus) Regulations 2019 or Regulation (EU) 2018/1129 of the European Parliament and of the Council of 14 June 2017 or Part 4 of the Central Bank (Investment Market Conduct) Rules 2019 is being or has been committed, the Central Bank may appoint one or more assessors.

The assessor(s) will decide if the prescribed contravention is being or has been committed and determine the appropriate sanction(s) to be imposed.

Resolution by Agreement

Prior to an assessment being made, the Central Bank may enter into a written agreement with the subject of the assessment to resolve the matter.