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ARTICLE · 12 JANUARY 2022

2021 – A Bumper Year For Central Bank Enforcement

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In spite of the limitations imposed as a result of the Covid-era, 2021 was another busy year for the Enforcement Division of the Central Bank of Ireland ("CBI").

IrelandFinance and Banking
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In spite of the limitations imposed as a result of the Covid-era, 2021 was another busy year for the Enforcement Division of the Central Bank of Ireland ("CBI").

Total Level of Fines

During 2021 the CBI concluded 5 Settlement Agreements with regulated firms resulting in fines totalling €66.8m – representing a vast increase on the €24.5m imposed in 2020 or the €28.1 in 2019.

Average Fine

The average level of fine imposed during 2021 was €13.3m, an increase on the 2020 average of €8.1m and the €4.3 average fine of 2019. (As the number of settlements reached in a given year is relatively low, caution is advised when considering the average level of fines imposed.)

CBI's Largest Fines

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