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Brexit could be one of the most significant events to affect the Irish economy and Irish financial services firms in a generation
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Loss of European passport is a material risk for firms providing cross-border financial services
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Regulatory approach to proposed transitional arrangements outlined
At the DCU Brexit Institute today, Deputy Governor of Prudential Regulation, Ed Sibley spoke about the potential impact of Brexit on the Irish economy and the financial services sector, focussing on the risks to firms of a hard or chaotic Brexit.
He said that: ‘as regulators, we see enormous challenges ahead, both for ourselves and for the firms that we supervise’ adding that the Central Bank is committed to meeting these challenges. ‘We have increased headcount, recruited heavily and re-allocated senior and experienced resources from other important tasks to ensure that we deliver effectively, efficiently, predictably and in a timely fashion.’
The Central Bank plays an active role
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