The Central Bank of Ireland has confirmed it will not appeal the Irish Financial Services Appeals Tribunal’s decision to uphold David Guinane’s appeal and overturn the bank’s inquiry decision of April 23, 2025. The inquiry concerned suspected participation by Guinane in permanent tsb plc’s breach of the Consumer Protection Code 2006, arising from the bank’s tracker mortgage examination. The Central Bank will apply to the High Court for confirmation of the tribunal’s decision under the Central Bank Act 1942. The case followed an investigation into permanent tsb that concluded in May 2019, when the lender admitted 42 regulatory breaches and received a EUR 21 million fine and a reprimand. A subsequent investigation into Guinane led to a statutory inquiry chaired by independent appointee Peter Hinchliffe, with the substantive hearing held in early 2024. This was the last inquiry conducted under the previous enforcement regime, before reforms introduced through the Central Bank (Individual Accountability Framework) Act 2023 and related guidelines. A previously announced external review of the Central Bank’s wider enforcement activities remains under way.
Central Bank of Ireland will not appeal tribunal decision overturning inquiry findings concerning David Guinane
The Central Bank of Ireland will not challenge the Irish Financial Services Appeals Tribunal’s decision overturning its April 2025 inquiry findings concerning David Guinane and will seek High Court confirmation of the ruling. The inquiry examined Guinane’s suspected participation in permanent tsb’s breach of consumer protection rules following the tracker mortgage examination. Its conclusion marks the final inquiry under the previous enforcement regime, while an external review of the bank’s wider enforcement activities remains under way.