Country Manual Private Banking – Ireland – BRP Update 2024
BRP has updated its Country Manual Private Banking for Ireland out of bank’s country of establishment (DEF, RS, BT and RT)
| Source of changes | Answers |
|---|---|
| Law / Regulation | No |
| New Position of the Authorities | No |
| Evolution of Expert’s Interpretation | No |
Regulatory Template, Regulatory Summary and Behaviour Template
Material changes
There have been no material changes to Irish law or regulation which would have a significant effect on the answers in the Template since the last update.
Non-material changes
Further references to Irish MiFID II regulations have been added in particular Regulation 51 on reverse solicitation. Several comments have been slightly reworded (without introducing material changes) to reflect the regulatory situation/current interpretation of the regulatory framework more accurately.
Implications for business relations with third parties
The documents having been reformatted onto the latest template, this section now provides for more answers, better distinguishing between the provision of documentation to the EAM for its own use and provision of documentation for its subsequent distribution to end-clients. This gave the opportunity to better specify that the provision of documentation to the EAM for its own use should to be done only upon request and remotely.
Regulatioon Summary
This document has now a more user-friendly layout and reflects the changes contained in the RT.
BT Short Comparison
The first column contains a short description of the activity in question. The second column contains the answers of the previous version of the Country Manual (online until the day of the alert). The third column contains the new answers of the most recent version of the Country Manual. Only the modified answers are displayed (in colour). If the answers in the new version are unchanged compared to the previous version, they are shaded in grey.
The BT Short Comparison should be read as follows:
The first column contains a short description of the activity in question. The second column contains the answers of the previous version of the Country Manual (online until the day of the alert). The third column contains the new answers of the most recent version of the Country Manual. Only the modified answers are displayed (in colour). If the answers in the new version are unchanged compared to the previous version, they are shaded in grey.
For more information, please contact us: info@brpsa.com
Geneva, April 12th, 2024