The Central Bank of Ireland has published its programme of themed-inspections in Markets Supervision, which reflect a number of supervisory priorities for this year.
According to the Central Bank, the themed-inspections, which supplement day-to-day supervisory activities under the Central Bank’s risk-based supervisory framework (PRISM), include the following:
- Cyber Security / Operational Risk - Inspection of controls and procedures around system security and access;
- Integrity of Regulatory Returns - Review of firms’ regulatory reporting;
- Proprietary trading - Reviewing the governance and control environment for MiFID firms trading on their own account;
- Suspicious Transaction Reports (STRs) - Follow-up on previous themed-inspection from 2013 related to market discipline in filing STRs;
- Person Discharging Managerial Responsibilities (PDMRs) - Review of policies and practices in relation to notification of relevant trading activity by persons discharging managerial responsibility in listed firms; and
- Risk management in UCITS - Examination of the on-going application of risk management processes employed by UCITS.