Administrative Sanctions and the Market Abuse Regulation

Part 23 of the Companies Act 2014 and the European Union (Market Abuse) Regulations 2016 provide the Central Bank with the power to impose administrative sanctions for prescribed contraventions of the Market Abuse Regulation and contraventions of Part 3 of the Central Bank (Investment Market Conduct) Rules 2019.

Appointment of Assessor(s)

Where the Central Bank has reason to suspect that a prescribed contravention of the Market Abuse Regulation or a contravention of Part 3 of the Central Bank (Investment Market Conduct) Rules 2019 is being committed or has been committed it may appoint one or more assessors.

The assessors will decide if the prescribed contravention is being or has been committed and determine the appropriate sanction(s) to be imposed.

Resolution by Agreement

Prior to an assessment being made, the Central Bank may enter into a written agreement with the subject of the assessment to resolve the matter.