Newsletter 02/2014
Central Bank to Regulate Trust and Company Service Providers for AML

This month, the Department of Justice published Regulations (Statutory Instrument 79/2014) providing that the Central Bank of Ireland would regulate, for anti-money laundering purposes, trust and company service providers that are 100% subsidiaries of a credit or financial institution.

The Department of Justice has, until now, been the competent authority for such service providers under anti-money laundering legislation. The Department is in the process of arranging for the handover of all relevant files to the Central Bank. The Regulations will become effective on 3 March 2014.

Click here to view the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (Competent Authority) Regulations 2014.
27 February 2014
In This Issue
Central Bank News
Revised Corporate Governance Code for Credit Institutions and Insurance Undertakings
Financial Crime
Central Bank to Regulate Trust and Company Service Providers for AML
Princess Cristina of Spain in Court Over Alleged Money Laundering
Ted Cunningham Pleads Guilty to Money Laundering
Enforcement
Financial Services Ombudsman Can Name and Shame
Insurance News
12 Month Non-Solicitation Period for Insurance Brokers Confirmed
Europe
EBA proposes a definition of 'fixed overheads' and capital charge for use of tied agents
EBA publishes standard on classes of instruments eligible for variable remuneration use under CRD IV
Training
Training March - June 2014
Useful Links
Compliance Ireland
Compliance Ireland
Lower Ground Floor
13 Adelaide Road
Dublin 2

T: +353 1 425 5962
E: email@complianceireland.com
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