Country Manual Private Banking
Ireland
BRP has updated its Country Manual Private Banking for Ireland out of Bank’s Country of Establishment (DEF, RS, BT & RT)
| Source of changes | Answers |
|---|---|
| Law / Regulation | No |
| New Position of the Authorities | No |
| Evolution of Expert’s Interpretation | Yes |
Regulatory Template, Regulatory Summary and Behaviour Template
The relevant regulatory restrictions and conditions for cross-border services from an EEA country into Ireland have been reviewed to ensure that the content of the documents remains accurate and in line with the evolving interpretation of the current legal and regulatory framework. The following material changes have occurred since the last update of the Manual.
Material changes
The answers for actively Offering Lombard Credit and Collecting a Lombard Credit Agreement are now Grey zone/YES – on an occasional basis for onsite activity and YES for activity by remote means. Following consultation it has been confirmed that Lombard lending may be treated as a MiFID activity and so the comments relating to the Irish Consumer Protection Code are not relevant.
Non-material changes
It has been noted that the Irish Consumer Protection Code is subject to change and a new version will appear in late 2024/early 2025.
For more information, please contact us: info@brpsa.com
Geneva, December 12th, 2024