In recent correspondence the Financial Regulator wrote explaining that they have merged with the Central Bank, so in future, instead of ‘XYZ Ltd. t/a FirmName is regulated by the Financial Regulator’ companies will instead have to replace ‘Financial Regulator’ with ‘Central Bank of Ireland’. So the re-brand is now complete and the error of split regulation has now been undone.

With current advertisements and promotions you can continue as is but with future print runs or information the new information must apply.

Brokers will also have to provide an email address to the Central Bank for all regulation correspondence, as well as keeping a proper file of CPD (Continuous Professional Development) hours.

A register by firms of who is acting on their behalf must be available at all times and kept up to date, and MCR (Minimum Competency Requirements) must also be kept proving that experience is relevant to a present role.

Oversight of prudential supervision and compliance has now been moved to the Consumer Protection Codes Department within the Central Bank of Ireland.