Ireland: Detailed Assessment of Observance of IOSCO Objectives and Principles of Securities Regulation

May 27, 2014

Preview Citation

Format: Chicago

Ireland: Detailed Assessment of Observance of IOSCO Objectives and Principles of Securities Regulation, (USA: International Monetary Fund, 2014) accessed November 21, 2024

Summary

This Detailed Assessment of Observance assessment of Ireland was carried out using the 2011 International Organization of Securities Commissions (IOSCO) Methodology for Assessing Implementation of the IOSCO Principles. The legal framework is robust and provides the Central Bank of Ireland with broad supervisory, investigative and enforcement powers. There are arrangements for on-site and off-site monitoring of regulated entities. Thematic reviews in selected areas have complemented such monitoring. The Central Bank and the Irish Stock Exchange have also developed sound systems for market surveillance. Certain aspects of the legal provisions regarding the governance structure of the Central Bank of Ireland raise concerns about its independence, although there were no indications of any interference with day-to-day operations. The regime that applies to entities that have issued their securities to the public where their securities are not admitted to trading on a regulated market needs to be strengthened. The Central Bank of Ireland lacks the power to appoint administrators to investments firms in the event of financial difficulties within the firm.

Subject: Auditing, Banking, Financial institutions, Financial instruments, Financial services, Financial statements, Public financial management (PFM), Securities

Keywords: Auditing, Common shareholder, CR, Europe, Financial statements, General partner, Global, Insider trading, ISCR, Limited partnership, Market maker, Parent company, Securities, Target company, Unit trust

Publication Details

Pages:

201
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/136
Stock No:

1IRLEA2014002
ISBN:

9781498311854
ISSN:

1934-7685

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