Statement – Roundtable discussion with Irish financial sector representative bodies

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As part of the Central Bank's ongoing engagement with external stakeholders it held a roundtable discussion yesterday with a number of industry representative bodies in sectors with firms which may be relocating activities to Ireland as a result of Brexit.

The Central Bank set out how it was engaging with a wide range of potential applicants across all sectors and outlined the resources and processes it has put in place to effectively deliver on its regulatory and supervisory mandate. The Central Bank also outlined how it is engaging at a European level on the key issues and how it is working to ensure that its regulatory approach is in line with guidance and standards being agreed across Europe.

Industry bodies raised a range of issues and risks to both existing members and new firms. They also highlighted the risks posed by Brexit including maintaining cross-border access to financial markets. 

The following stakeholders attended the Roundtable:

• Banking and Payments Federation Ireland
• Financial Services Ireland
• Fintech and Payments Association of Ireland
• Irish Association of Investment Managers
• Irish Funds Industry Association
• Insurance Ireland