Ireland: Detailed Assessment of Observance of IOSCO Objectives and Principles of Securities Regulation
IMF Staff Country Reports, May 27, 2014
Source details
- Canonical URL
- Ireland: Detailed Assessment of Observance of IOSCO Objectives and Principles of Securities Regulation
Other formats
Bibliographic details
- Published: May 27, 2014
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498311854.002
Assessment scope and methodology
- Assessment carried out using the 2011 International Organization of Securities Commissions (IOSCO) Methodology for Assessing Implementation of the IOSCO Principles.
- Publication type: IMF Staff Country Reports.
- Publication date: May 27, 2014.
- Pages: 201.
- Volume: 2014.
- Issue: 136.
- DOI: https://doi.org/10.5089/9781498311854.002.
- Stock No: 1IRLEA2014002.
- ISBN: 9781498311854.
- ISSN: 1934-7685.
Main findings on legal and supervisory framework
- 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 on-site and off-site monitoring.
- The Central Bank and the Irish Stock Exchange have developed sound systems for market surveillance.
Governance and independence concerns
- Certain aspects of the legal provisions regarding the governance structure of the Central Bank of Ireland raise concerns about its independence.
- There were no indications of any interference with day-to-day operations.
Regulatory gaps and limitations
- 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 investment firms in the event of financial difficulties within the firm.
Thematic relevance and subject tags
- 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.
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International Monetary Fund. Ireland: Detailed Assessment of Observance of IOSCO Objectives and Principles of Securities Regulation (IMF Staff Country Reports 2014, 136).