Dáil Éireann Debate, Wednesday - 16 May 2018
84. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which banks operating here have been penalised financially for their activities in other jurisdictions, some of which would seek to offload such responsibilities to customers here; and if he will make a statement on the matter. [21685/18]
Amharc ar fhreagraPart IIIC of the Central Bank Act 1942, as amended, provides the Central Bank of Ireland with the power to administer sanctions in respect of the commission of prescribed contravention(s) by Regulated Financial Service Providers (RFSP) regulated by the Central Bank of Ireland, and by persons presently or formerly concerned in the management of RFSPs who have participated in the prescribed contravention(s) committed by the RFSP.
The Central Bank of Ireland is not in a position to comment on financial penalties imposed by regulators in other jurisdictions.
Further information on the Central Bank's Administrative Sanctions Procedure can be found on the Bank's website, available at the following link: www.centralbank.ie/regulation/how-we-regulate/enforcement/administrative-sanctions-procedure.
