Written answers
Thursday, 18 April 2019
Department of Finance
Central Bank of Ireland Enforcement Actions
Michael McGrath (Cork South Central, Fianna Fail)
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76. To ask the Minister for Finance the number of enforcement proceedings initiated by the Central Bank in each of the years from 2016 to 2018 and to date in 2019, by type of licensed institution; the number of proceedings that have led to enforcement actions by the Central Bank; the value of fines, by type, that have been imposed in each year, in tabular form; and if he will make a statement on the matter. [18337/19]
Paschal Donohoe (Dublin Central, Fine Gael)
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The Central Bank of Ireland have provided the following tables setting out the number and details of concluded enforcement actions by the Central Bank in each of the years 2016 to 2019 (to date).
Enforcement actions against regulated firms and individuals under the Administrative Sanctions Procedure (ASP)
| Year | Number | Fines Imposed |
|---|---|---|
| 2019 | 0* | €0* |
| 2018 | 10 | €7,441,000 |
| 2017 | 11 | €7,239,970 |
| 2016 | 9 | €12,075,750 |
| Total | 30 | €26,756,270 |
2018
| Case Name | Sector | Fine Imposed | Date | |
|---|---|---|---|---|
| 1 | Michael P. Walsh | Credit Institutions | €20,000 | 22-Jan-18 |
| 2 | Bastow Charleton Wealth Management | Investment Firm | €220,000 | 27-Mar-18 |
| 3 | Appian Asset Management | Investment Firm | €443,000 | 13-Jun-18 |
| 4 | St.Canice's Credit Union | Credit Union | €210,000 | 21-Jun-18 |
| 5 | PartnerRe Ireland Insurance dac (PRIID) | Insurance | €910,000 | 16-Aug-18 |
| 6 | Partner Reinsurance Europe SE (PRESE) | Insurance | €630,000 | 16-Aug-18 |
| 7 | CitiBank Europe plc | Banking | €1,330,000 | 03-Oct-18 |
| 8 | E-Services and Communications Credit Union Limited | Credit Union | €155,000 | 24-Oct-18 |
| 9 | Tom McMenamin | Credit Institutions | €23,000 | 06-Dec-18 |
| 10 | RSA | Insurance | €3,500,000 | 18-Dec-18 |
2017
| Case Name | Sector | Fine Imposed | Date | |
|---|---|---|---|---|
| 1 | Kinsale Capital Management Limited | Investment Firm | €275,000 | 14-Feb-17 |
| 2 | Drimnagh Credit Union Limited | Credit Union | €125,000 | 07-Mar-17 |
| 3 | Allied Irish Banks plc | Banking | €2,275,000 | 24-Apr-17 |
| 4 | The Governor and Company of the Bank of Ireland | Banking | €3,150,000 | 26-May-17 |
| 5 | Intesa Sanpaolo Life dac | Insurance | €1,000,000 | 23-Nov-17 |
| 6 | Albert Reilly t/a Albert Reilly Insurance and Financial Consultants | Intermediary | €1,470 | 27-Nov-17 |
| 7 | Lupton Financial Services Limited t/a Lupton & Co. Financial Services | Intermediary | €1,225 | 28-Nov-17 |
| 8 | Lorna Heffernan Finance Limited | Intermediary | €1,050 | 30-Nov-17 |
| 9 | Robert Moynihan | Intermediary | €1,225 | 01-Dec-17 |
| 10 | Merrion Stockbrokers Limited | Stockbrokers | €200,000 | 12-Dec-17 |
| 11 | BCP Asset Management DAC | Investment Firm | €210,000 | 18-Dec-17 |
2016
| Case Name | Sector | Fine Imposed | Date | |
|---|---|---|---|---|
| 1 | Arch Reinsurance Europe Underwriting dac | Insurance | €275,000 | 15-Mar-16 |
| 2 | Seamus Sutcliffe t/a The Mortgage Centre | Intermediary | €2,750 | 30-Jun-16 |
| 3 | New Ireland Assurance Company plc. | Insurance | €650,000 | 13-Jul-16 |
| 4 | Axa Insurance Ireland Limited | Insurance | €675,000 | 26-Jul-16 |
| 5 | KBC Bank Ireland plc | Banking | €1,400,000 | 06-Oct-16 |
| 6 | Capita Life and Pensions Services (Ireland) Limited | Intermediary | €1,150,000 | 11-Oct-16 |
| 7 | Ulster Bank Ireland DAC | Banking | €3,325,000 | 27-Oct-16 |
| 8 | Springboard Mortgages | Retail Credit Firm | €4,500,000 | 24-Nov-16 |
| 9 | Bray Credit Union | Credit Union | €98,000 | 06-Dec-16 |
Further details of enforcement actions under the ASP can be found on the Central Bank website at the following link: .
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