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ARTICLE · 19 FEBRUARY 2019

CBI Publishes A Prohibition Notice For The First Time

Dillon Eustace
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The CBI has recently published a Prohibition Notice in relation to an individual who was formerly a partner in a firm which was authorised under the IIA 1995 and under the European Communities Regulations 2005.

IrelandFinance and Banking
Dillon Eustace
Dillon Eustace
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The Central Bank of Ireland (the "CBI") has recently published a Prohibition Notice in relation to an individual who was formerly a partner in a firm which was authorised under the Investment Intermediaries Act 1995 and under the European Communities (Insurance Mediation) Regulations 2005 (the "Individual"). The Prohibition Notice prohibits the Individual from performing any controlled function in any regulated financial service provider indefinitely.

This is the sixth Prohibition Notice to be issued by the CBI. Notably, it is the first time that the CBI has exercised its discretion to publish a Prohibition Notice (albeit with some redactions). Up to now, the CBI has only published brief statements on its website giving high level details of Prohibition Notices it has issued.

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