The Revision Of The Inquiry Guidelines

As part of the regularisation and enhancement of the Central Bank of Ireland's ("CBI's") enforcement powers under the Central Bank and Financial Services Authority Act 2004, a new Part IIIC of the Central Bank Act 1942 (the "Act") was introduced. This provides a framework within which the CBI may invoke its powers to investigate and sanction parties for breaches of the rules (the "Administrative Sanction Procedure") and fleshes out the CBI's powers.

The CBI published an Outline of the Administrative Sanction Procedure in 2005, together with Inquiry Guidelines ("Guidelines").  These Guidelines were updated in late 2013, after the CBI had sought submissions from industry on the proposed and/or required changes.