Client asset protection is a regulatory priority for the Central Bank of Ireland and will remain on the Central Bank of Ireland’s supervisory and enforcement agenda.
Therefore it will remain on the board’s agenda to ensure compliance of the proposed new requirements are adhered to.
Client Asset Requirements are changing and firms have to take steps to ensure they comply with the new requirements. The new requirements bring Fund Service Providers into scope for the first time, others will have to assess how their current framework must be modified.
The following are the key changes and additions to the Client Asset Regulations:
If you have any client asset protection queries, please contact Jonathan Lew of our Financial Services team. We'd be delighted to hear from you.