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Regulatory Investigations
Our Regulatory Investigations team advises regulated entities and their senior management on all aspects of regulatory investigations and enforcement actions
To assist firms, their management and employed individuals in addressing increasingly robust regulatory related obligations, Dillon Eustace has a dedicated cross departmental Regulatory Investigations unit made up of experienced financial services, regulatory and dispute resolution lawyers. This team advises regulated entities and those involved in their management on how to navigate investigations carried out by regulatory and statutory bodies including, the Central Bank of Ireland, the Registrar of Credit Unions, the Corporate Enforcement Authority and the Financial Services and Pensions Ombudsman.
In the first instance, we assist clients in dealing with regulatory concerns with the aim of ensuring good governance and avoiding potential enforcement action. Where enforcement action is initiated, we assist clients in dealing with the process in its entirety.
We have particular experience representing clients on all aspects of Central Bank’s Administrative Sanctions Procedure, including the investigation phase, settlements and referrals to inquiry, as well as attending Central Bank interviews, acting for clients in respect of appeals from decisions of the Central Bank to the Irish Financial Services Appeals Tribunal and advising clients in relation to fitness and probity investigations by the Central Bank. Our team has particular expertise in the regulatory regime introduced by the Central Bank (Individual Accountability Framework) Act 2023, including its provisions on the Senior Executive Accountability Regime (SEAR) and the Conduct Standards.
Relevant Experience
Investigations and inquiries – advising on investigations by the Central Bank of Ireland, the Office of the Director of Corporate Enforcement and the Chartered Accountants Regulatory Board, statutory and non-statutory inquiries.
Representing MiFID investment firms in relation to a range of Central Bank enforcement matters, including regulatory capital, fitness and probity rules, client categorisation, contracts for difference, etc.
Representing insurers in relation to Central Bank AML enforcement proceedings.
Advising a regulated financial institution in relation to an internal investigation into an irregularity and its interactions with the Central Bank of Ireland relating to the investigation of that irregularity.
Advising individuals in pre-approval controlled functions (PCF) who have been summoned for interview by the Central Bank of Ireland in the context of regulatory investigations.
Advising on Authorised Officers’ powers, directions and requirements, and Skilled Persons’ Reports.
Preparation for and responses to themed inspections and Risk Mitigation Programmes.
Advising providers/product producers and intermediaries on dealing with customer redress.
Negotiating settlements on behalf of clients with the Central Bank and other regulatory entities.
Acting for a party to a proposed acquisition under MiFID Regulations in an appeal to the Irish Financial Services Appeals Tribunal (IFSAT) against a decision of the Central Bank of Ireland opposing the acquisition.
Acting on behalf of various financial service providers in relation to complaints made against them to the Financial Services and Pensions Ombudsman.
Advising individuals who have been called to give evidence at other inquiries/investigations, such as fitness to practice hearings and the Banking Inquiry.
Advising an international accountancy firm in the preparation of a report for the Central Bank in relation to the activities of an Irish regulated entity.
Advising clients on their obligations and responsibilities arising under the new Central Bank Individual Accountability Framework (IAF) and Senior Executive Accountability Regime (SEAR).
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