The Central Bank publishes Feedback Statement on consultation on enhancements to the Central Bank Client Asset Requirements (the CAR), as contained in the Central Bank Investment Firms Regulations (CP 133)

On 28 July 2021, the Central Bank published a feedback statement following its consultation on proposed enhancements to the Client Asset Requirements (the CAR), as set out in Part 6 of the Central Bank Investment Firms Regulations.

The consultation sought stakeholders’ views on proposed enhancements to the CAR. The feedback statement sets out that the Central Bank will proceed with the majority of the proposals consulted on. This includes broadening the scope and application of the CAR to credit institutions, targeted enhancements to include investment firms and credit institutions holding client assets in the context of conducting wholesale activities as well as other amendments applicable to all investment firms currently in scope of the CAR.

The protection of client assets is a key priority for the Central Bank and the enhancements set out in CP 133 aim to ensure that client assets held by investment firms and credit institutions, authorised by the Central Bank, remain appropriately safeguarded.