Oireachtas Joint and Select Committees
Thursday, 19 October 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Engagement with the Central Bank of Ireland
9:30 am
Mr. Ed Sibley:
This is my point. Under Solvency II, insurance firms have to undertake regulatory reporting and if they fail to do so, or report inaccurately, we can and would take enforcement action. The insurance firms themselves would say the requirements are onerous and they certainly are a significant uplift in terms of the data and the quality thereof they must submit.
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