Corporate Governance News
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Corporate Governance in 2015 - A New Legal and Regulatory Landscape
The provisions of the new Code of Corporate Governance 2013 came into effect on 1st January 2015. While the majority of provisions have not changed significantly from the original 2010 Code, there have been some notable introductions and as with any new publication that affects how your Firm will operate it is advisable to familiarise yourself with its content.
The same is also true of the new Companies Act 2014. While it was signed into law in December 2014 it is not due to commence until 1st June 2015 however it also contains entire Parts devoted to Corporate Governance that warrant attention. This article will address some of the changes that companies and firms will face as a result of these new legal and regulatory provisons.
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Data Integrity - Provision of Timely, Complete and Accurate Information to the Central Bank
Refresher Series - Central Bank Enforcement Priorities
In its announcement of Enforcement Priorities for 2015, the Central Bank noted that "A number of enforcement cases in 2014 concerned the provision of incomplete/inaccurate regulatory information to the Central Bank by firms. The Central Bank considers this a very serious issue, as the effective prudential supervision of firms is contingent upon the accuracy and completeness of the information available to the Central Bank."
This article is the first in a series of articles designed to address the Cross-sector Enforcement Priorities of the Central Bank for 2015. This article will focus on data integrity in the context of regulatory obligations on firms and expectations of the Central Bank in this area by looking at relevant enforcement actions and the recent thematic review results.
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Code of Conduct on Mortgage Arrears Still at the Forefront
On the 2 April the Central Bank published its quarterly MART Report. Given the clear positive progress evidenced in the report and the impact of the Single Supervisory Mechanism, it is somewhat unsurprising that the Central Bank also published an update on its Supervisory Engagement on Mortgage Arrears on the same day. This article will look at how both publications highlight the continued importance of the 2009 Code of Conduct on Mortgage Arrears and also the notable inclusion of Consumer Protection (including the CCMA) in the Central Bank's enforcement priorities.
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