Thursday, 27 June 2019

Questions (52)

Michael McGrath

Question:

52. Deputy Michael McGrath asked the Minister for Finance the number of enforcement proceedings initiated by the Central Bank by type of regulated entity, for example, credit institutions, moneylenders and so on in each year since 2013; the number of those proceedings that led to enforcement findings against the regulated entity; the value of fines imposed for those enforcement findings in tabular form; and if he will make a statement on the matter. [27435/19]

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Written answers (Question to Finance)

The Central Bank of Ireland have provided the following tables setting out the number and details of enforcement proceedings by the Central Bank in each of the years since 2013 (to date).

Enforcement actions against regulated firms and individuals under the Administrative Sanctions Procedure (ASP)

Year

Number

Fines Imposed

2019

3*

€22,526,189

2018

10

€7,441,000

2017

11

€7,239,970

2016

9

€12,075,750

2015

9

€7,338,040

2014

11

€5,422,450

2013

16

€6,348,215

Total

69

€68,391,614

* Note: while there have been three concluded Enforcement outcomes under the ASP to date in 2019, there are a significant number of actions under way and it is expected that the number of outcomes for the year will be in line with previous years.

2019

Case Name

Sector

Fine Imposed

Date

1

Bank of Montreal Ireland plc

Banking

€1,246,189

26/04/2019

2

Campbell O’Connor & Company

Stockbroker

€280,000

08/05/2019

3

Permanent tsb plc

Banking

€21,000,000

30/05/2019

2018

Case Name

Sector

Fine Imposed

Date

1

Michael P. Walsh

Credit Institutions

€20,000

22-Jan-18

2

Bastow Charleton Wealth Management

Investment Firm

€220,000

27-Mar-18

3

Appian Asset Management

Investment Firm

€443,000

13-Jun-18

4

St.Canice's Credit Union

Credit Union

€210,000

21-Jun-18

5

PartnerRe Ireland Insurance dac (PRIID)

Insurance

€910,000

16-Aug-18

6

Partner Reinsurance Europe SE (PRESE)

Insurance

€630,000

16-Aug-18

7

CitiBank Europe plc

Banking

€1,330,000

03-Oct-18

8

E-Services and Communications Credit Union Limited

Credit Union

€155,000

24-Oct-18

9

Tom McMenamin

Credit Institiutions

€23,000

06-Dec-18

10

RSA

Insurance

€3,500,000

18-Dec-18

2017

Case Name

Fine Imposed

Date

1

Kinsale Capital Management Limited

Investment Firm

€275,000

14-Feb-17

2

Drimnagh Credit Union Limited

Credit Union

€125,000

07-Mar-17

3

Allied Irish Banks plc

Banking

€2,275,000

24-Apr-17

4

The Governor and Company of the Bank of Ireland

Banking

€3,150,000

26-May-17

5

Intesa Sanpaolo Life dac

Insurance

€1,000,000

23-Nov-17

6

Albert Reilly t/a Albert Reilly Insurance and Financial Consultants

Intermediary

€1,470

27-Nov-17

7

Lupton Financial Services Limited t/a Lupton & Co. Financial Services

Intermediary

€1,225

28-Nov-17

8

Lorna Heffernan Finance Limited

Intermediary

€1,050

30-Nov-17

9

Robert Moynihan

Intermediary

€1,225

01-Dec-17

10

Merrion Stockbrokers Limited

Stockbrokers

€200,000

12-Dec-17

11

BCP Asset Management DAC

Investment Firm

€210,000

18-Dec-17

2016

Case Name

Sector

Fine Imposed

Date

1

Arch Reinsurance Europe Underwriting dac

Insurance

€275,000

15-Mar-16

2

Seamus Sutcliffe t/a The Mortgage Centre

Intermediary

€2,750

30-Jun-16

3

New Ireland Assurance Company plc.

Insurance

€650,000

13-Jul-16

4

Axa Insurance Ireland Limited

Insurance

€675,000

26-Jul-16

5

KBC Bank Ireland plc

Banking

€1,400,000

06-Oct-16

6

Capita Life and Pensions Services (Ireland) Limited

Intermediary

€1,150,000

11-Oct-16

7

Ulster Bank Ireland DAC

Banking

€3,325,000

27-Oct-16

8

Springboard Mortgages

Retail Credit Firm

€4,500,000

24-Nov-16

9

Bray Credit Union

Credit Union

€98,000

06-Dec-16

2015

Case Name

Sector

Fine Imposed

Date

1

Western Union Payment Services Ireland Limited

Payment Institution

€1,750,000

14-May-15

2

Tadhg Gunnell (PCM Bloxham Stockbrokers)

PCM

€105,000

20-May-15

3

INBS

Banking

€5,000,000

14-Jul-15

4

Irish Taxi Owners' Co-Op Credit Union Limited

Credit Union

€5,000

14-Oct-15

5

Michael Hogan (PCM Irish Taxi Owners' Co-Op Credit Union Limited)

PCM

N/a

14-Oct-15

6

Lambay Capital Limited T/A MKW Futures

Investment Firm

€49,000

01-Dec-15

7

Octagon Online Services Limited

Investment Firm

€105,000

08-Dec-15

8

H. & P. Car Sales Limited

Intermediary

€1,540

10-Dec-15

9

Computershare Investor Services (Ireland) Limited

Investment Firm

€322,500

15-Dec-15

2014

Case Name

Sector

Fine Imposed

Date

1

Ava Capital Markets Limited

Investment Firm

€165,000

04-Mar-14

2

UniCredit Bank Ireland plc

Banking

€315,000

13-Mar-14

3

Anthony Henneberry t/a Anthony Henneberry Financial Services

Intermediary

€640

14-Mar-14

4

LGT Capital Partners (Ireland) Limited

Investment Firm

€95,000

28-Mar-14

5

FBD Insurance plc

Insurance

€490,000

08-May-14

6

Squared Financial Services Limited

Investment Firm

€100,000

16-May-14

7

Bank of Montreal Ireland p.l.c.

Banking

€650,000

21-May-14

8

E. Tarrant & Sons (Car Sales) Ltd

Intermediary

€910

16-Oct-14

9

Seamus McGrath t/a Seamus McGrath Financial Services

Intermediary

€900

17-Oct-14

10

Ulster Bank Ireland Ltd

Banking

€3,500,000

06-Nov-14

11

Provident Personal Credit Ltd t/a Provident

Moneylender

€105,000

26-Nov-14

2013

Case Name

Sector

Fine Imposed

Date

1

MacDonagh Boland Crotty MacRedmond Limited t/a Aon MacDonagh Boland

Intermediary

€65,000

22-Jan-13

2

C&C Group Plc

Non-RFSP

€90,000

30-Jan-13

3

Quinn Insurance Limited (Under Administration)

Insurance

€5,000,000

18-Feb-13

4

John D. O'Connor t/a John D. O'Connor Financial Services

Intermediary

€1,100

06-Mar-13

5

Smyths Insurance Brokers Ltd and Raymond Smyth

Intermediary

€12,000

11-Apr-13

6

MOD Financial Services Limited

Intermediary

€420

21-Jun-13

7

Susquehanna International Securities Limited

Stockbrokers

€78,000

25-Jun-13

8

Ryan Motor Power Limited

Intermediary

€1,000

25-Jun-13

9

Stephen Redmond t/a SJ Redmond & Associates

Intermediary

€520

30-Jul-13

10

Rocklands Financial Limited

Intermediary

€650

07-Aug-13

11

P Walpole & Sons Limited t/a Central Motors

Intermediary

€525

05-Sep-13

12

Oxendale & Co Ltd

Moneylender

€8,000

11-Sep-13

13

AXA MPS Financial Ltd

Investment Firm

€50,000

03-Oct-13

14

John Campbell t/a Campbell Financial Services

Intermediary

€1,000

05-Nov-13

15

CitiBank Europe plc

Banking

€550,000

11-Dec-13

16

Allied Irish Banks, p.l.c.

Banking

€490,000

17-Dec-13