Factsheets

It was broadly agreed that the implementation of the IAF will provide clarity of responsibilities, which will underpin sound governance across…

When designing a fit-for-purpose governance model, trust and transparency are the keys to success.…

The Individual Accountability Framework (IAF) impacts all Regulated Financial Services Providers (RFSPs) and…

As a result of Brexit, and particularly following the introduction of the UK’s Financial Services and Markets Act, there is a potential for increasing divergence between EU and UK financial services regulation.

Creating and implementing watertight Know Your Customer (KYC) procedures can be problematic for many organisations since the process remains a people-driven, manual operation.

Ensure compliance with DORA. Discover requirements for cybersecurity resilience, testing standards, and best practices for EU financial service providers.

Following enactment of the Central Bank (Individual Accountability Framework) Act 2023 on 9 March 2023, the Central Bank of Ireland (“CBI”) has launched a three-month consultation on key aspects of the implementation of the Individual Accountability Framework (IAF), including the publication of draft regulations and guidance.

As a result of recent amendments to the Criminal Justice (Money Laundering and Terrorism Financing) Act 2010 to 2021, Virtual Asset Service Providers (VASPs) are now “designated persons” and are required to comply with the relevant Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) obligations.

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Final guidelines on common procedures and methodologies for the supervisory review and evaluation process for investment firms, along with final draft Regulatory Technical Standards on Pillar 2 add-ons for investment firms are published.

The Central Bank of Ireland (‘CBI’) has recently issued its latest Anti-Money Laundering Bulletin, focussing on the Virtual Asset Service Provider (‘VASP’) sector. In this bulletin, the CBI has provided its observations on a number of significant and widespread deficiencies across authorisation applications received from VASPs where roughly 90% of all applications are not meeting the required standard.

DORA is a draft regulation published by the European Commission in September 2020 and forms part of the European Commission’s wider Digital Finance Strategy to support the development of digital finance while mitigating associated risks

The European Commission has adopted a proposal for a revised Directive on Security of Network and Information Systems (NIS 2 Directive).

Read our latest factsheet about Data protection as a service

Grant Thornton offers a timely, cost effective, managed iXBRL tagging service for company financial statements and tax returns. If the Irish Revenue or HRMC iXBRL tagging requirements apply to your company then our service could be the solution for you.

Read our new cyber article Do companies take cybersecurity seriously enough?