July 14, 2015
Deputy John Deasy asked the Minister for Finance the number of sanctions that have been imposed on financial service providers by the Financial Regulator in each of the past five years; the total amount accrued in financial penalties.
REPLY (Minister Michael Noonan):
Part IIIC of the Central Bank Act 1942, as amended, provides the Central Bank of Ireland with the power to impose sanctions in respect of the commission of prescribed contraventions by regulated financial service providers and the participation in the prescribed contraventions by persons concerned in their management.
Since 2011 a total of €22,063,565 in fines has been imposed by the Central Bank of Ireland. A total of 54 cases have been taken during this period in which fines were imposed. Details of each case are available on the Central Bank website.
Deputy John Deasy asked the Minister for Finance the number of appeals that have been heard each year since the Irish Financial Services Appeals Tribunal was established.
REPLY (Minister Michael Noonan):
The total number of appeals determined by IFSAT since its inception is twelve. The total number of appeals currently outstanding is three. It is not possible to allocate individual cases to specific calendar years but broadly speaking IFSAT has determined approximately two cases each year since it was established.
Deputy John Deasy asked the Minister for Finance the number of sanctions that have been imposed on financial service providers by the Financial Regulator in each of the past five years; the total amount accrued in financial penalties.
REPLY (Minister Michael Noonan):
Part IIIC of the Central Bank Act 1942, as amended, provides the Central Bank of Ireland with the power to impose sanctions in respect of the commission of prescribed contraventions by regulated financial service providers and the participation in the prescribed contraventions by persons concerned in their management.
Since 2011 a total of €22,063,565 in fines has been imposed by the Central Bank of Ireland. A total of 54 cases have been taken during this period in which fines were imposed. Details of each case are available on the Central Bank website.
Deputy John Deasy asked the Minister for Finance the number of appeals that have been heard each year since the Irish Financial Services Appeals Tribunal was established.
REPLY (Minister Michael Noonan):
The total number of appeals determined by IFSAT since its inception is twelve. The total number of appeals currently outstanding is three. It is not possible to allocate individual cases to specific calendar years but broadly speaking IFSAT has determined approximately two cases each year since it was established.
