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Central Bank launches guidance on enforcement sanctions

Nov 15, 2019

The Central Bank of Ireland has published a new guide to sanctions imposed under the Administrative Sanctions Procedure (ASP) for the financial services sector.

This ASP Sanctions Guidance increases transparency by providing greater clarity on the Central Bank’s general approach to sanctioning of firms and individuals. It provides guidance on the application of a variety of factors relevant to sanctioning under the ASP, including cooperation, self-reporting and remediation.

The Guidance intends to help to promote an improved culture of compliance in financial firms by clarifying the behaviours which may aggravate or mitigate a breach of financial services law.

You can find further information on the ASP here.

Source: Central Bank of Ireland.