The Central Bank publishes the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) Investment Firms Regulation 2023 (S.I. No. 10 of 2023) which incorporate amendments to the Central Bank Client Asset Requirements

On 3 February 2023, the Central Bank published the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) Investment Firms Regulation 2023 (S.I. No. 10 of 2023) (the Regulations) containing amendments to the Client Asset Requirements, which are set out in part 6. The Central Bank has also published an Addendum to its Guidance on revised Client Asset Requirements, addressing the topic of Transfers of Business.

The revised Regulations will be applicable to investment firms from 1 July 2023 and credit institutions from 1 January 2024.

The protection of client assets is a key priority for the Central Bank and the enhancements aim to ensure that client assets held by investment firms and credit institutions, authorised by the Central Bank, remain appropriately safeguarded.

More information:

https://www.centralbank.ie/regulation/industry-market-sectors/client-assets