Regulatory and Investigations - Regulatory and Investigations summer ezine

In This Issue

Through a PRISM – the Central Bank’s priorities for 2012

New naming powers proposed for the Financial Services Ombudsman

Government heralds new anti white-collar crime legislation

Gardaí prioritise white-collar investigations

Landmark rulings on data protection law – Businesses Beware!

For further information, please contact Bríd Munnelly, Carina Lawlor or Michael Byrne at Matheson Ormsby Prentice.

E:brid.munnelly@mop.ie
E:carina.lawlor@mop.ie
E:michael.byrne@mop.ie

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What we do

Welcome to the Summer 2012 edition of the Regulatory and Investigations E-zine.

This issue includes an analysis of the Central Bank’s enforcement priorities for 2012; information on the proposals to extend the powers of the Financial Services Ombudsman; an update of proposed new anti white-collar crime measures; and an assessment of the significance of recent data protection rulings for businesses.

IN THIS ISSUE

Through a PRISM – the Central Bank’s priorities for 2012

At the beginning of the year, the Central Bank published its enforcement priorities for 2012. As the figures from the first six months show, it has wasted no time in implementing its tougher stance on inspections and enforcement.

New naming powers proposed for the Financial Services Ombudsman

Under existing legislation, the Financial Services Ombudsman is precluded from identifying organisations which are subject to investigation. However, with the Minister for Finance backing a new “name and shame” policy, what would this mean for the financial services sector?

Government heralds new anti white-collar crime legislation

As part of his zero-tolerance stance to white-collar crime, the Minister for Justice has proposed a number of new measures to tackle corruption. As this analysis of the proposed measures shows, it is clear that the pace of change on anti-corruption is quickening.

Gardaí prioritise white-collar investigations

In tandem with the Minister for Justice’s focus on corruption and white-collar crime, Ireland’s law enforcement agencies have also stepped up their efforts in this regard. We assess the latest developments.

Landmark rulings on data protection law – Businesses Beware!

Following a landmark prosecution earlier this year, the Data Protection Commissioner warned of ‘severe consequences’ for any organisation found to have breached the Irish data protection law. This ruling demonstrates the importance for business in how they acquire and manage personal data.

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