Written answers
Thursday, 17 December 2015
Department of Finance
Central Bank of Ireland Enforcement Actions
Michael McGrath (Cork South Central, Fianna Fail)
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158. To ask the Minister for Finance the fines greater than €100,000 imposed by the Central Bank of Ireland on financial institutions over the past three years; and if he will make a statement on the matter. [45990/15]
Michael Noonan (Limerick City, Fine Gael)
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The Central Bank has provided me with the following information on fines greater than €100,000 it has imposed over the past three years.
| Year | Name | Date | € | |
|---|---|---|---|---|
| 2013 | Quinn Insurance Ltd (under Administration) | 18/02/2013 | €5,000,000 | Fine waived in the public interest |
| Citibank Europe plc | 11/12/2013 | €550,000 | ||
| Allied Irish Banks plc | 17/12/2013 | €490,000 | ||
| Total fines greater than €100,000 imposed for 2013 | €6,040,000 | |||
| 2014 | Ava Capital Markets Limited | 04/03/2014 | €165,000 | |
| UniCredit Bank Ireland p.l.c. | 13/03/2014 | €315,000 | ||
| FBD Insurance plc | 08/05/2014 | €490,000 | ||
| Squared Financial Services Limited | 16/05/2014 | €100,000 | ||
| Bank of Montreal Ireland plc | 21/05/2014 | €650,000 | ||
| Ulster Bank Ireland | 12/11/2014 | €3,500,000 | ||
| Provident Personal Credit Limited t/a Provident | 01/12/2014 | €105,000 | ||
| Total fines greater than €100,000 imposed for 2014 | €5,325,000 | |||
| 2015 | Western Union | 19/05/2015 | €1,750,000 | |
| Mr Tadhg Gunnell | 21/05/2015 | €105,000 | The Central Bank considered that the actions of Mr Gunnell also merited a monetary penalty of €105,000 being imposed on him. However, on the basis that Mr Gunnell was adjudicated bankrupt by the High Court on 26 January 2015, this monetary penalty has been waived. | |
| Irish Nationwide Building Society | 15/07/2015 | €5,000,000 | Fine waived in the public interest | |
| Total fines greater than €100,000 imposed for 2015 | €6,855,000 | |||
| Total fines greater than €100,000 imposed from 2013 to 2015 | €18,220,000 |
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