No. 3 - May 2017

The future of redress? A consideration of the Tracker Mortgage Examination
The Central Bank of Ireland first announced details of its 'Tracker Mortgage Examination' in October 2015. The Examination is still on-going but by the end of February this year approximately €78 million had been paid in redress and compensation to impacted parties. Muireann Reedy concludes that, while it remains to be seen whether the guidelines put in place for redress under the Examination will act as a template for future redress programmes under the 2013 Act, what is clear is that the final bill for lenders involved in the Examination will be very significant by the time redress and compensation is paid, Appeals Panels are established and the costs of a potential enforcement investigation are factored in.

No. 2 - February 2017

Consequences of admissions in ASP Settlements
As part of any settlement under its Administrative Sanctions Procedure (the ASP), the Central Bank of Ireland (the Central Bank) expects a breach to be admitted. Muireann Reedy examines the impact that this policy can have on a regulated entity or individual and contrasts the Central Bank’s position with the practice of other financial regulators.

No. 1 - November 2016

A decade of settlements under the Central Bank’s Administrative Sanctions Procedure
The Central Bank entered its first settlement agreement under its Administrative Sanctions Procedure in 2006. Muireann Reedy of Dillon Eustace’s Regulatory Investigations Unit examines the evolution of publicity statements released following settlements under this regime, from the first brief statement released in 2006 to the robust statements which characterise today’s settlements.