Regulatory Decisions Unit (RDU)  

The Regulatory Decisions Unit (RDU) is a unit of Central Bank of Ireland. One of the roles of the RDU is to facilitate the appointment of decision makers in four regulatory regimes operated by the Central Bank and to provide administrative and/or legal support to appointed decision makers. The RDU’s role covers the following types of cases:

  • Administrative Sanctions Procedure Inquiries (ASP Inquiries)
  • Certain decisions under the Fitness and Probity regime
  • Assessments under securities markets legislation1 and
  • Proposed refusals or revocations of authorisations.

The role of the RDU in relation to ASP Inquiries is set out in the Inquiry Guidelines prescribed by the Central Bank pursuant to Section 33BD of the Central Bank Act 1942, as amended, (the Act).

Regulatory Decisions Panel

One of the RDU’s responsibilities is to facilitate the creation of panels of decision- makers from which persons may be selected to make decisions in some of the areas set out above. These panels will comprise Central Bank employees and/or external individuals and may be supplemented from time to time as appropriate.

An Inquiry Panel was appointed by the Central Bank in 2014 to carry out ASP Inquiries pursuant to Part IIIC of the Act.

A panel of Assessors was appointed by the Central Bank in 2012 to carry out assessments pursuant to the Market Abuse (Directive 2003/6/EC) Regulations 2005, the Prospectus (Directive 2003/71/EC) Regulations 2005 and the Transparency (Directive 2004/109/EC) Regulations 2007.

The RDU is in the process of recruiting a new panel of decision makers (the Regulatory Decisions Panel or RDP) who will be available for appointment to future ASP Inquiries, certain Fitness and Probity matters, and securities market assessments. The closing date for applications was 10 January 2020.

RDU Notices 

The Legal Notices page contains notices published by the RDU from time to time and decisions made by appointed decision makers.  This page includes details of:

  • ASP Inquiry Hearings taking place as well as any determinations or decisions issued by Inquiry members

1“Securities markets legislation” includes the following regulations:

  1.  European Union (Market Abuse) Regulations 2016 (S.I. No. 349 of 2016);
  2. European Union (Prospectus) Regulations 2019 (S.I. No. 380 of 2019);
  3. Transparency (Directive 2004/109/EC) Regulations, 2007 (S.I. No. 277 of 2007); 
  4.  European Union (European Markets Infrastructure) Regulations 2014 (S.I. No. 443 of 2014);
  5. European Union (Markets in Financial Instruments) Regulations 2017 (MiFID II) (S.I. No. 375 of 2017);
  6. European Union Securities Financing Transactions Regulations 2017 (S.I. No. 631 of 2017);
  7. European Union (Indices Used in Benchmarks in Financial instruments and financial contracts or to measure the performance of investment funds) Regulations 2017 (S.I. No. 631 of 2017).