IRELAND: Consultation on Competent Authority Discretions in the Investment Firms Directive and the Investment Firms Regulation

Thursday January 14 2021

On 14^th January 2020, the Central Bank published Consultation Paper 135 “Consultation on Competent Authority Discretions in the Investment Firms Directive and the Investment Firms Regulation”.

The consultation seeks stakeholders’ views on the proposed treatment of competent authority discretions set out in the Investment Firm Directive (“IFD”) and the Investment Firm Regulation (“IFR”) and includes proposed changes to the general reporting requirements for investment firms to align with the new reporting regime under IFD/IFR.

Sections I to IV present the Central Bank’s proposed approaches towards certain key competent authority discretions in the following areas:

• Section I: Application of the CRD regime to Investment Firms
• Section II: Liquidity Requirements
• Section III: Assessment of Internal Capital and Liquid Assets
• Section IV: K-Factor Adjustment

Section V of the paper outlines proposed amendments to the Central Bank Investment Firms Regulations as result of the entry into force of IFD/IFR.

Responses should be submitted no later than 26^th March 2021.

Click on the link for further information.