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ARTICLE · 15 MAY 2012

Administrative Sanctions Procedure

Arthur Cox
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The Central Bank of Ireland has a number of supervisory measures and enforcement tools available to it to enable it to address concerns it may have about regulated entities and their senior management.

IrelandFinance and Banking
Robert Cain
Robert Cain
Andrew Lenny
Andrew Lenny
Conor McClements
Conor McClements
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The Central Bank of Ireland has a number of supervisory measures and enforcement tools available to it to enable it to address concerns it may have about regulated entities and their senior management.

The focus of this briefing note relates to one of these powers, namely the Administrative Sanctions Procedure ("ASP").

ENFORCEMENT DIRECTORATE STRUCTURE & FUTURE TRENDS

Over the coming years, use of the enforcement of its powers through ASP is likely to become more prevalent.

The Central Bank of Ireland ("the Central Bank") has been recruiting heavily for the past year to increase its enforcement staff to c.75 people. The Enforcement Directorate or department falls under the supervision of the Director of the Enforcement Directorate and is divided into two Enforcement Teams, the first of which ("Enforcement I"), is principally concerned with ASP.

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