The Central Bank of Ireland has published a roadmap for delivering a more effective and efficient regulatory and supervisory framework, aimed at reducing complexity and improving clarity while maintaining resilience and existing protections. The programme builds on recent changes such as the Central Bank’s integrated supervisory approach and enhancements to gatekeeping processes, and is positioned as streamlining without lowering standards or intensity of supervision. The roadmap sets out initiatives across four pillars. Supervision will be further shaped by the integrated, risk-based approach, with multidisciplinary teams, sharper risk focus and clearer supervisory communications to support more coherent engagement with firms and greater proportionality. Regulation work includes updating the domestic rulebook by retiring or consolidating outdated provisions and aligning national requirements with evolving EU frameworks, including a compatibility review of insurance rules to remove duplication with Solvency II reforms, a review of domestic banking rules that pre-date CRD V/CRR, updates to credit union guidance following changes to the Credit Union Lending Framework, changes to the AIF rulebook and UCITS regulation alongside a full review of the Fund Service Provider Framework, refreshed cross-sector guidance on operational resilience, outsourcing and governance, and a new Regulatory Impact Assessment Framework. Gatekeeping measures include establishing a Gatekeeping Division to improve consistency, transparency and timeliness across authorisations and Fitness & Probity processes. Reporting and data reforms centre on a comprehensive review of domestic reporting requirements and a “discipline-by-design” model to ensure data collections are purposeful, proportionate and non-duplicative, aligned with European efforts to streamline bank reporting. The Central Bank describes the work as a comprehensive multi-year programme and indicates it will continue risk-based supervision and enforcement where necessary as the financial system and risk landscape evolve.
Central Bank of Ireland 2025-12-10
Central Bank of Ireland publishes multi-year roadmap to streamline regulation and supervision including a new Gatekeeping Division
The Central Bank of Ireland has released a roadmap to enhance its regulatory framework, focusing on reducing complexity and improving clarity while maintaining resilience. Key initiatives include aligning domestic regulations with EU frameworks, establishing a Gatekeeping Division for better authorisation processes, and reforming reporting and data collection. The programme emphasizes a risk-based supervisory approach with multidisciplinary teams and clearer communications.