Technology & Cyber regulatory updates from Ireland.
We track 45 Technology & Cyber updates from Ireland regulators, published by CBI. The archive covers 30 speeches, 6 reports and 5 news items. Most recent update: November 2026. Coverage runs from 2022 to 2026.
Central Bank of Ireland today (Monday 2 November) hosts its annual Financial System Conference at Croke Park in Dublin. It brings together c. 500 delegates including international and domestic policy experts, senior figures from the financial services industry, and stakeholders from across the financial ecosystem. Key…
Why this matters
The press release centres on the Governor's opening remarks and announcements at the conference, so it is classified as a speech. It addresses AI governance and accountability expectations for regulated firms, which supports the Technology & Cyber and Senior Managers / Governance topics.
Introduction Good morning everyone. I am delighted to welcome you to our 5 th Financial System Conference. 1 Almost 7 years ago in my first speech as Governor, I spoke of the importance of economic resilience through the transitions shaping our world. 2 In that speech in Waterford, I focused on climate and…
Why this matters
The document is opening remarks by Governor Makhlouf, so it is a speech. Tokenisation and DLT content supports the digital assets and capital markets sectors, since it covers how financial assets are issued, held and transferred.
Introduction Good afternoon everyone. Thank you, Paul and Lory, for the invitation, and thank you to Blockchain Ireland and TEDx Dublin for putting this afternoon together – it really is quite the lineup. So – as the summit was pitched – we are here today to explore how the new era of digital on-chain finance has the…
Why this matters
This is an official speech by a named Central Bank of Ireland director. It discusses tokenisation, central bank money as settlement asset, interoperability, and consumer trust in payments.
Introduction Good morning and many thanks to Moyagh and the team in Insurance Ireland for the invitation to speak to you today. 1 The theme of this year’s Forum – a stronger Europe – is an important one, and is a question on the minds of policymakers, regulators and industry alike as Europe looks to meet its moment…
Why this matters
The document is a speech by a named Central Bank of Ireland Deputy Governor to Insurance Ireland. It is insurance-specific and emphasises operational and cyber resilience (including DORA and third-party dependencies), AI governance under the AI Act, and simplification of the prudential framework (Solvency II revision...
Introduction Good morning everyone, You are all very welcome here today to Central Bank of Ireland’s Payments and E-Money seminar - a forum where we can reflect together on the key developments, challenges and risks facing the payments ecosystem. I would like to say thank you to Tommy Hannafin and his team for…
Why this matters
The document is a speech by a named Central Bank of Ireland director at a sector seminar, so it is classified as speech. Payments & E-Money is the primary sector, and Crypto & Digital Assets is included because the speech discusses EMTs and stablecoins being explored for broader payment use.
Remarks by Governor Gabriel Makhlouf on the launch of The Evolution of Bank Governance in the EU
Why this matters
The document is remarks by the Central Bank of Ireland Governor at a book launch, so it is a speech. It discusses board effectiveness, challenge culture, individual accountability, and fitness and probity reforms following the Enria review, which fall under Senior Managers / Governance.
Good morning. Thank you for the invitation to speak here today. The success of Ireland’s funds sector is well known. Europe’s second-largest fund domicile and a top-three global player, Ireland now hosts €5.6 trillion in investment fund assets and serves investors around the world. This success is a credit to the…
Why this matters
This is a speech by CBI Governor Makhlouf to the Irish funds sector. While informational in nature (urgency: null), it carries significant regulatory signals: (1) explicit supervisory focus on operational resilience culture and third-party service provider concentration risk; (2) acknowledgment of uneven compliance...
Tánaiste, Ministers, Governors, Commissioners, Deputy Governors, colleagues and friends. It is a great pleasure to join the Tánaiste in welcoming you to Dublin this evening. I am conscious that, at this point in the proceedings I am standing between you and the next course. So, I will resist the central banker’s…
Why this matters
This is a speech by the Central Bank of Ireland Governor at an informal ECOFIN dinner. The content discusses geopolitical fragmentation, technological change in financial systems (AI, digital banking, new forms of money), and the importance of trust and collective action among European policymakers.
Central Bank of Ireland Governor Gabriel Makhlouf today (Friday 18 September) spoke at The Future of Finance Conference held in Dublin. Governor Makhlouf opened the conference with a focus on trust “At the Central Bank of Ireland, our work on the payments system is an important part of our economic, policy and…
Why this matters
This is a high-level policy speech by the CBI Governor outlining three core policy pillars (infrastructure modernisation, resilience requirements, and responsible innovation) for the future payments system.
Good morning, and welcome to our conference on “Trust and Innovation: The Future of Finance”. This morning’s event takes place on the sidelines of the Informal ECOFIN – an occasion that brings together many of Europe’s most experienced economic policy makers to discuss pressing questions. And payments, I would argue…
Why this matters
This is a high-level policy speech from the Central Bank of Ireland Governor delivered at an Informal ECOFIN conference. It outlines the CBI's strategic framework for payments regulation and innovation, emphasizing the two-tier architecture of money (public and private), the role of central bank digital currency, and...
ECB unveils ten shortlisted design proposals for next series of euro banknotes Europeans invited to have their say in online survey open until 21 September Governing Council expected to select one design proposal around the end of the year The European Central Bank (ECB) today unveiled the shortlisted design proposals…
AI Analysis
The ECB has unveiled ten shortlisted design proposals for the next series of euro banknotes and launched an EU‑wide public survey running to 21 September 2026, ahead of a Governing Council decision on the final design around end‑2026. This is the first full redesign since 2002 and will introduce new security, accessibility and environmental features, requiring bank, payments and cash‑handling firms to plan for operational, technical and customer‑facing changes to cash handling, processing and authentication.
Key dates
Late 2026
- Expected Governing Council decision on the final design proposal for the new euro banknote series
Subsequent years (post‑2026)
- Progressive introduction of new‑series euro banknotes into circulation, co‑circulating with existing series which retain value
21 September 2026
- Closure of the ECB public online survey on the ten shortlisted euro banknote design proposals
Suggested considerations
Establish an internal project workstream to monitor ECB communications on the banknote redesign and plan for operational impacts on cash handling, ATM networks and merchant devices.
Conduct a preliminary impact assessment of how new banknote security and design features may affect existing banknote sorting, authentication and recycling equipment, and identify likely upgrade or replacement needs.
Engage with ATM and cash‑handling hardware vendors to understand expected firmware, sensor and software changes required to support the new banknote series and to secure upgrade slots ahead of issuance.
Review and update internal cash‑handling and banknote authentication procedures, including staff training materials, to incorporate new design and security features once technical specifications are published.
Plan customer communications strategies to explain the coexistence of old and new series banknotes, reaffirm the continued validity of previous series, and address any fraud or counterfeiting concerns.
What changed
- The ECB has published ten shortlisted design proposals for the next series of euro banknotes, based on the two themes “European culture” and “Rivers and birds”.
An EU‑wide online public survey has been launched to collect feedback on the shortlisted designs, forming part of the ECB’s inclusive approach to banknote design.
The ECB’s Governing Council will select a single design proposal around the end of 2026, informed by the Design Contest Jury conclusions, technical assessments and survey results.
The chosen design will undergo further development and testing before production, including integration of new and improved security features.
The new series of euro banknotes will be introduced into circulation in subsequent years, alongside existing series, which will retain their legal value and continue to circulate.
Compliance impact
Non‑compliance will primarily manifest as operational and conduct risk rather than direct regulatory sanction at this stage, but inadequate preparation could lead to service disruption, increased counterfeit losses, customer detriment and potential supervisory scrutiny over firms’ cash‑handling controls. Early engagement and orderly implementation will be important for banks and payment providers with large cash footprints or critical ATM networks.
Good morning, I am delighted to be here and many thanks to Andrea for the invitation. 1 I very much look forward to the discussion and to hearing from you, but first of all I would like to set the scene with some perspectives on the environment we are operating in. Last month I set out my views on some of the key…
Why this matters
Deputy Governor McMunn's speech addresses governance and delegation practices in Irish fund management companies, with focus on operational resilience, AI governance, and supervisory expectations.
Good morning. It is a pleasure to welcome you this morning to the Central Bank of Ireland and to the tenth annual Macroprudential Conference, organised jointly with the Deutsche Bundesbank, the Nederlandsche Bank, and the Sveriges Riksbank. Let me begin by thanking the scientific committee for bringing together such a…
Why this matters
This is an opening speech at the 10th Annual Macroprudential Conference by the Central Bank of Ireland Governor. It is informational/educational content discussing macroprudential policy frameworks, financial system resilience, and emerging risks including non-bank finance, cross-border payments, stablecoins, and...
Good morning and thank you to BIPAR for inviting me to speak at your event today, as we approach the start of the Irish Presidency of the Council of the European Union. As the financial sector continues to evolve, the contribution of intermediaries remains as important as ever. Around 2,500 of the 3,300 firms the…
Why this matters
Deputy Governor speech outlining CBI's supervisory priorities for retail intermediaries. Key focus areas include consumer vulnerability, commission arrangements, unregulated activities, and digital transformation. Informational in nature, setting regulatory expectations rather than announcing new rules.
My thanks to the Tánaiste and his Department for the invitation to be here today. I am delighted to take part in this National Financial Literacy Strategy Stakeholder Forum. It is an important event as part of a necessary collaborative approach across public and private stakeholders in delivering Ireland’s National…
Why this matters
Deputy Governor speech on financial literacy strategy emphasizing consumer protection framework, modernized Consumer Protection Code requirements, and firm obligations around clear communication, digital service design, fraud prevention, and consumer awareness.
Deputy Governor McMunn's speech to IOB Funds and Asset Management Forum on 8 June 2026.
Why this matters
Deputy Governor McMunn's speech addresses the Irish funds sector's evolution amid geopolitical and technological change. Key focus areas include resilience frameworks (liquidity management, governance stress-testing), AI and tokenisation adoption with proper governance, and regulatory adaptation.
Central Bank of Ireland has today (Friday 5 June 2026) published its Annual Report and Annual Performance Statement for 2025 . Speaking on publication of the report, Governor Gabriel Makhlouf said: “2025 was a year of significant uncertainty and adjustment. “Inflation across advanced economies continued to moderate…
AI Analysis
The Central Bank of Ireland (CBI) has published its 2025 Annual Report and Annual Performance Statement, signalling concrete shifts in supervisory approach, consumer protection expectations, and regulatory implementation priorities across digitalisation, financial crime and new EU regimes. For compliance teams in Irish‑authorised firms, this is effectively a roadmap of how CBI will supervise in 2026–2027: enhanced conduct standards under the modernised Consumer Protection Code, intensified focus on financial crime and digital risks (including AI), and more assertive enforcement capacity via a new dedicated prosecutions team.
Key dates
01 January 2025
– CBI established a dedicated team to investigate and prosecute offences under financial services legislation
2025 (effective date – specific day not stated)
– The modernised Consumer Protection Code came into effect for Irish‑regulated firms
2025 (throughout the year)
– CBI implemented its new supervisory approach centred on four safeguarding outcomes and reorganised into multi‑disciplinary supervisory teams
2025 (theme year)
– CBI’s Innovation Sandbox focused on combatting financial crime, with seven projects selected on information sharing, identity verification and fraud prevention
December 2025
– CBI published “Regulating & Supervising well – a more effective and efficient framework,” detailing its simplified and outcomes‑focused regulatory framework
Suggested considerations
Map the modernised Consumer Protection Code requirements against existing policies, procedures and customer journeys to identify and remediate gaps, particularly in digital channels, disclosure, sales practices and complaints handling.
Update vulnerable customer policies, customer‑facing procedures, training materials and systems flags to ensure systematic identification, recording and tailored treatment of consumers in vulnerable circumstances.
Review mortgage switching processes and documentation to ensure customers receive clear, comparative information on switching options, are not subject to unreasonable barriers or retention tactics, and that conflicts of interest are controlled and documented.
Conduct a comprehensive review of insurance auto‑renewal practices (including communications, timing, consent mechanisms and pricing) and implement changes to align with the strengthened consumer protection expectations.
Strengthen fraud and scam prevention frameworks by enhancing customer education, warnings, authentication, monitoring, incident response and redress processes, with particular focus on online and mobile channels.
What changed
- The modernised Consumer Protection Code entered into effect in 2025, updating the existing Irish conduct framework to reflect digital delivery of financial services and strengthen protections in...
Requirements on informing consumers effectively were tightened, implying higher expectations on clear, fair, not misleading disclosures across digital and traditional channels, and more robust...
New or enhanced obligations concerning consumers in vulnerable circumstances now apply, requiring firms to identify, record and respond to vulnerability and to embed vulnerability considerations into...
Mortgage switching processes are subject to strengthened conduct standards, increasing expectations on how options are presented, how customers are supported to switch, and how potential conflicts or...
Insurance auto‑renewal practices are now more tightly controlled, requiring clearer pre‑renewal information, active consent and controls to mitigate consumer detriment from inertia or unsuitable...
Compliance impact
Non‑compliance with the modernised Consumer Protection Code, new supervisory expectations, and EU‑level regimes such as MiCA, DORA and the EU AI Act can lead to administrative sanctions, reputational damage, and increasingly, investigation and prosecution by CBI’s dedicated enforcement team. Given the integrated, outcomes‑focused supervisory model, weaknesses in any of conduct, prudential, operational resilience or financial crime controls are more likely to trigger broad‑based supervisory interventions and enforcement scrutiny.
Good morning and welcome to the launch of our first Financial Stability Review of 2026 . During 2026, risks facing the domestic financial system from the global environment have intensified. In 2025, the origin of external risks related primarily to swings in global trade policy. This year, the origin relates to the…
Why this matters
Governor's speech on Financial Stability Review highlighting elevated external risks (geopolitical tensions, energy shocks, AI valuations, private credit concerns) and domestic resilience measures.
Risks to Ireland's financial system from the global environment have intensified, Central Bank of Ireland has said today. The Financial Stability Review , published today, assesses the risks to and resilience of the Irish financial system. A persistent global energy supply shock triggered by the conflict in the Middle…
Why this matters
Central Bank of Ireland's Financial Stability Review assesses systemic risks to the Irish financial system. Key concerns include energy supply shocks, AI sector valuations funded by debt, cyber risks, and the need for strong capital buffers and operational resilience.
1 We are at the early stages of a potential technological rewiring of finance. Fast-forward ten or twenty years, and it seems likely that the use of shared, programmable ledgers – and the tokenisation of financial assets – will have become embedded across the financial system. Today, we stand at a juncture. The…
AI Analysis
The Deputy Governor’s speech sets out the Central Bank of Ireland’s (CBI) emerging regulatory stance on tokenised finance and distributed ledger technology (DLT), framing it as a structural transition rather than a niche innovation. While it does not introduce new binding rules, it clearly signals supervisory expectations, impending policy development (including follow‑up to the March 2026 Discussion Paper on tokenisation and DLT), and the need for regulated firms to integrate tokenisation risks, governance and operational resilience into existing regulatory frameworks.
Key dates
05 March 2026
- CBI publishes its Discussion Paper on tokenisation and distributed ledger technology in financial services, initiating a structured consultation on tokenised markets, funds, money and payments
26 May 2026
- Deputy Governor speech sets out the CBI’s strategic approach to tokenised finance, confirming that consultation feedback will inform subsequent policy, supervisory expectations and potential rule changes
05 June 2026
- Closing date for submissions to the CBI Discussion Paper on tokenisation and DLT, after which CBI will prepare a feedback statement and refine its policy stance
TBD (post‑June 2026)
- CBI feedback statement on the tokenisation Discussion Paper expected, likely followed by more granular guidance and potential adjustments to supervisory and authorisation processes for tokenised activities
Suggested considerations
Map all current and planned tokenisation and DLT initiatives (including pilots and proofs of concept) across the group and identify which EU and Irish regulatory regimes they fall under (MiFID II, UCITS, AIFMD, CRR/CRD, PSD2/PSR, Solvency II, MiCA, DORA, etc.).
Perform a regulatory gap analysis to confirm that tokenised products and services are fully captured within existing licensing permissions and assess whether any variation of permission, new authorisation, or recognition as a market infrastructure is required.
Review and update governance arrangements so that boards and senior management explicitly oversee tokenisation strategies, risk appetite, and the use of DLT, including ensuring clear allocation of responsibilities under the firm’s senior manager or fitness and probity framework.
Integrate tokenisation‑specific risks into the firm’s risk management framework, covering legal enforceability of tokens, smart‑contract risk, cyber and operational resilience, data integrity, interoperability, concentration risk in technology providers, and settlement and counterparty risk.
Review outsourcing and third‑party risk management frameworks to ensure that DLT platform providers, smart‑contract developers, node operators and custodians are treated as critical or important outsourced service providers where appropriate, with robust contractual, oversight and exit provisions.
What changed
- The CBI formally recognises tokenisation and shared, programmable ledgers as a likely core infrastructure of the future financial system and signals that regulation will evolve to treat tokenised...
The speech confirms that CBI’s regulatory approach will be “technology‑neutral but not technology‑blind”, indicating that existing EU and Irish rules (e.g.
The CBI emphasises the need to keep central bank money at the core of tokenised finance, aligning its stance with Eurosystem work on wholesale and retail central bank digital currency (CBDC) and...
The speech reinforces that tokenised instruments representing traditional financial assets (securities, deposits, fund units) will generally be treated as regulated financial instruments, triggering...
The CBI highlights operational resilience, cyber risk, interoperability and smart‑contract governance as critical supervisory focus areas for tokenised finance infrastructure and platforms.
Compliance impact
Non‑compliance will not immediately trigger new standalone tokenisation fines, but CBI is likely to use existing conduct, prudential, governance and operational resilience powers to challenge poorly controlled tokenised activities and may restrict or prohibit projects that do not meet its expectations. Firms that treat tokenised finance as “outside the regulatory perimeter” or fail to integrate it into existing compliance frameworks risk supervisory intervention, authorisation issues, enforcement action and reputational damage.
Good afternoon and thank you for the opportunity to speak to you today. It is great to see the energy and commitment to the credit union movement evident here today and reflected in your agenda for today’s conference. 1 Today’s event is especially timely, coming not long since Minister Troy’s announcement in April of…
Why this matters
Deputy Governor speech announcing modernised Consumer Protection Code application to credit unions, digital transformation requirements, and financial literacy initiatives. Informational in nature with forward-looking regulatory guidance on implementation timelines and support mechanisms.
The Central Bank has today (15 May 2025) announced the appointment of Glenn Calverley to the role of Director of Finance and Business Performance. Mr Calverley will take up his role with effect from 1 September 2026. Glenn brings a wealth of experience to this role, most recently as Director of Strategy & Governance…
Central Bank of Ireland has made the memoir of former Governor T.K. Whitaker available digitally for the first time. While the memoir has been available for in-person viewing in the Central Bank's archives, it is now accessible online at www.centralbank.ie , allowing a wider audience to engage with this important…
Introduction Good morning – I am delighted to be here, and many thanks to Brian and the BPFI for hosting us. 1 I very much look forward to the discussion, and to hearing from you all today, but before I do I would like to set out some reflections on a number of topics which are currently high on the regulatory agenda…
Central Bank loan-level research shows the Irish lending market is significantly less concentrated when considering the full diversity of lenders. Robust capital and liquidity positions have served the sector well – with the evidence not supporting a lowering of overall levels of resilience on the basis of bank…
I was in Washington for the Spring Meetings of the International Monetary Fund (IMF) two weeks ago and this week I was in Frankfurt at the latest meeting of the ECB Governing Council, to decide interest rates to achieve our price stability target of 2 per cent inflation over the medium term. I wanted to use this blog…
Good morning. Brendan, thank you for the warm introduction. It is a pleasure to join you at the ILCU Internal Audit Services Conference. I also want to thank Barry Harrington for the invitation to address you here today. 1 When I addressed the ILCU Annual Conference last April, I spoke about a time of transformative…
More than one in three Irish adults (35%) have experienced fraud or scams. 38% of fraud victims never reported their experience to their financial service provider or any authority. Research identified risky online behaviours as the single strongest predictor of fraud experience—more influential than age, income, or…
This regulatory update from the Central Bank of Ireland covers ESMA's publication of templates and instructions for Active Account Requirement (AAR) reporting, as well as a Supervisory Briefing on Algorithmic Trading.
In his latest blog, Governor Gabriel Makhlouf argues that central banks must modernise their digital infrastructure and regulatory frameworks to ensure that central bank money remains the stable foundation of Europe's financial system whilst enabling private sector innovation in a digitally transformed ecosystem.
Why this matters
This regulatory update discusses the transformation of Europe's financial system driven by technological innovation, particularly in areas like distributed ledger technology and tokenization.
In his remarks, Governor Gabriel Makhlouf emphasised that Europe must mobilise its substantial savings by strengthening economic growth, completing the Single Market, and building more integrated capital markets, as capital currently flows abroad due to perceived higher returns elsewhere. He argued that central banks…
Why this matters
This speech by the Governor of the Central Bank of Ireland discusses the need to mobilize Europe's savings to support investment and economic growth. It covers topics related to capital markets, financial stability, and the role of central banks and regulators in creating the conditions for productive investment.
Good afternoon and welcome to this Central Bank of Ireland workshop on the Consumer Protection Code. Today I will focus on the outlook for consumers and investors. But first let me pause to talk a little about the broader context in which we find ourselves. We are living through a period marked by extraordinary…
AI Analysis
Deputy Governor Colm Kincaid's speech on 24 March 2026 emphasizes consumer protection as central to the Central Bank of Ireland's (CBI) mission amid geopolitical, technological, and economic changes, highlighting the revised **Consumer Protection Code 2025** (CPC 2025) as a key modernization effort. This matters for compliance professionals because the CPC 2025 introduces enhanced, digitally-focused protections effective **24 March 2026**, replacing the 2012 Code after a 12-month implementation period, with firms required to proactively secure customer interests.
Key dates
24 March 2025
- CBI publishes revised CPC 2025, Standards for Business Regulations, Consumer Protection Regulations, and guidance
Gap analysis: Map current policies/processes against CPC 2025 using CBI's mapping tool; update for new obligations like digital service design, vulnerability screening, fraud measures.
Testing/monitoring: Develop records/compliance systems; test advertising/bundling; integrate sustainability claims checks.
Stakeholder engagement: Review CBI guidance/FAQs; prepare for supervision during implementation.
What changed
The CPC 2025 comprises Standards for Business Regulations (governance, resources, risk management, conduct standards) and Consumer Protection Regulations (cross-sectoral and sector-specific rules for...
Core obligation: Firms must "secure customers’ interests," shifting to a proactive, customer-focused mindset.
Cross-sectoral requirements: Knowing the consumer/suitability; conflicts of interest/remuneration; vulnerable consumers (updated definition); digitalisation (customer-focused design); effective...
Specific enhancements: Fraud/scam protections; mortgage switching disclosures; greenwashing prevention via clear sustainability claims; expanded consumer definition (e.g., SMEs up to €5m turnover...
Supporting materials: Guidance on securing interests/vulnerable consumers, mapping tool for legacy codes, redline amendments.
Compliance impact
Urgency: High – With effectiveness today (24 March 2026), firms face immediate non-compliance risk as the 12-month window closes; CBI supervision will intensify on digital/fraud/vulnerability protections amid heightened risks (e.g., cyber, scams). Non-adherence risks enforcement under CBI's powers, reputational damage, and fines, especially as this "gold-plates" EU rules in a volatile environment.
This regulatory update from the Central Bank of Ireland covers several topics relevant to the banking, capital markets, and crypto/digital asset sectors, including changes to margin requirements for derivatives, amendments to client asset rules, and a discussion paper on distributed ledger technology.
Good morning everyone, I am delighted to be here for what looks set to be an interesting conference on a topic which is both very close to my heart and central to what we do at Central Bank of Ireland (“the Central Bank”) – as we work to deliver on our mission, and in particular ensuring the financial system is…
AI Analysis
This speech by Deputy Governor Mary Elizabeth McMunn outlines the Central Bank of Ireland's (CBI) shift toward **outcomes-focused regulation and supervision**, emphasizing five key priorities from the 2026 Regulatory and Supervisory Outlook (RSO) to address geopolitical risks, consumer protection, technology, and resilience in a volatile environment. It matters for compliance professionals as it signals intensified CBI scrutiny on firm behaviors and outcomes rather than mere rule compliance, with direct implications for supervisory engagements, thematic reviews, and enforcement across banking, funds, insurance, and payments sectors.
Key dates
24 March 2026 Deadline
- Revised Consumer Protection Code (CPC) takes effect (12-month lead-in complete; firms must be compliant)
H1–H2 2026
- DORA implementation including threat-led penetration testing (survey issued H1)
H1–H2 2026
- Enhanced AML/CFT Risk Evaluation Questionnaire
H1 2026–H2 2027
- Thematic inspection of transaction monitoring and STR reporting
H1–H2 2026
- UCITS Value at Risk (VaR) model review and depositary oversight
Suggested considerations
Conduct gap analyses for revised CPC compliance, focusing on thresholds, customer experience, and fraud support (immediate if in-scope).
Technology transformations (AI, digital money, tokenisation). These build on prior developments like the revised Consumer Protection Code (CPC), DORA implementation, and enhanced AML/CFT frameworks,...
Compliance impact
Urgency: High – The speech, delivered today (9 March 2026), underscores imminent RSO 2026 execution with CPC effective in 2 weeks (24 March 2026) and H1 2026 activities (e.g., DORA testing, AML questionnaires) starting soon. Non-compliance risks intensified supervision, thematic inspections, enforcement, and reputational damage in a high-geopolitical-risk environment; outcomes-focus demands proactive evidence of resilience and consumer safeguards over procedural box-ticking.
Central Bank of Ireland today published a Discussion Paper examining the potential role of Distributed Ledger Technology (DLT) and tokenisation in the financial system . Deputy Governor Vasileios Madouros, commenting on the publication, said: “Distributed ledger technology and tokenisation have the potential to…
AI Analysis
The Central Bank of Ireland (CBI) has launched Discussion Paper 12 (DP12) on Distributed Ledger Technology (DLT) and tokenisation in financial services to explore their transformative potential in areas like markets, funds, payments, and money, while assessing opportunities, risks, and enablers such as legal clarity and interoperability. This matters for compliance professionals as it signals CBI's proactive stance on integrating these technologies into a resilient financial system, aligning with EU ambitions like the Savings and Investment Union, and invites stakeholder input to shape future policy without proposing immediate rules. (Source: https://www.centralbank.ie/news/article/press-release-discussion-paper-tokenisation-and-distributed-ledger-technology-in-financial-services-5-march-26 [publication]; https://www.arthurcox.com/insights/central-bank-issues-discussion-paper-on-dlt-tokenisation-in-financial-services/ )
Key dates
5 June 2026 Deadline
- Deadline for stakeholder submissions responding to the 16 questions in DP12
Post
5 June 2026; - CBI to publish a feedback statement assessing responses and existing policy fit. (Source: https://www.centralbank.ie/news/article/press-release-discussion-paper-tokenisation-and-distributed-ledger-technology-in-financial-services-5-march-26 [publication]; https://www.arthurcox.com/insights/central-bank-issues-discussion-paper-on-dlt-tokenisation-in-financial-services/ )
Suggested considerations
Review DP12 (PDF available via CBI site) and prepare/ submit responses to the 16 questions by 5 June 2026, focusing on legal clarity, risks, funds tokenisation, and enablers like interoperability.
Engage in CBI's structured stakeholder dialogues to influence future frameworks.
Assess internal DLT/tokenisation pilots or plans against discussed risks (e.g., operational resilience, scalability) and opportunities (e.g., fractional ownership, 24/7 liquidity).
What changed
This is a non-binding discussion paper, not a regulatory change or new requirement; it poses 16 questions on topics including legal recognition of tokenised instruments, governance, infrastructure, funds (e.g., tokenised MMFs and ETFs), payments, and risks like operational resilience and interoperability. It highlights needs for policy intervention to avoid fragmented "walled gardens," ensure central bank money's role, and address challenges in fractionalisation, transparency, and settlement finality, but no mandates are imposed yet.
Compliance impact
Urgency: Medium – This consultative paper poses no immediate rules but represents a key opportunity to shape emerging DLT/tokenisation regulation amid CBI's 2026 priorities on tech-driven transformations and resilience; inaction risks missing input on critical enablers like legal finality for tokens, potentially leading to stricter future requirements misaligned with firm needs. It aligns with broader EU/BIS pushes (e.g., MiCA, tokenized reserves), amplifying relevance for firms in funds, payments, and crypto.
New OECD report highlights financial scams as top threat to consumers globally Deputy Governor of the Central Bank of Ireland Colm Kincaid welcomed the publication of the OECD’s Consumer Finance Risk Monitor 2026 , a comprehensive global assessment examining consumer protection challenges across 60 international…
Why this matters
This regulatory update from the Central Bank of Ireland highlights the growing threat of financial scams and fraud targeting consumers globally, which is a critical issue for banks, fintechs, and payment providers to address through enhanced fraud prevention and consumer protection measures.
The Central Bank has today published its Regulatory & Supervisory Outlook 2026 , which sets out its latest assessment of the risk landscape facing the financial sector and the supervisory work it will undertake in response. This follows on from the Governor’s letter to the Tánaiste on the economic outlook and…
AI Analysis
The Central Bank of Ireland (CBI) has published its **Regulatory & Supervisory Outlook 2026**, outlining priorities shaped by geoeconomic fragmentation, technological acceleration, and elevated risks like operational resilience, cyber threats, data/AI, and consumer protection. This matters for compliance professionals as it signals intensified supervisory scrutiny, including desktop and onsite inspections, across Ireland's financial sector to ensure resilience and adaptability amid uncertainties.[https://www.centralbank.ie/news/article/press-release-central-bank-sets-out-its-regulatory-and-supervisory-priorities-26-february-2026][https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]
Key dates
2026
2027; - Ongoing desktop/onsite reviews on operational resilience, ESG/climate, and supervisory priorities across sectors.[https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]
24 March 2026 Deadline
- Revised Consumer Protection Code (CPC) takes effect, following 12-month lead-in; firms must ensure full implementation.[https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]
H1 2026
- CBI consultation on new Regulatory Impact Assessment (RIA) Framework.[https://maples.com/regulatory-round-up/central-bank-of-ireland-update-and-supervisory-approach-for-2026-fund-service-providers][https://www.centralbank.ie/docs/default-source/regulation/transforming-regulation-and-supervision/regulating-supervising-well-a-more-effective-and-efficient-framework.pdf]
Implement revised CPC by 24 March 2026, assessing scope changes and business impacts.[https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]
Enhance financial crime controls, including fraud victim support, scam awareness, and market abuse detection; monitor AMLA developments.[https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]
Embed ESG/climate risks into governance, risk management, and business models, preparing for SFDR 2.0 and event response reviews.[https://www.ogier.com/news-and-insights/insights/regulatory-outlook-2026-the-central-bank-of-ireland-s-priorities-explained/]
Prepare for integrated supervision via gatekeeping enhancements and streamlined reporting.[https://maples.com/regulatory-round-up/central-bank-of-ireland-update-and-supervisory-approach-for-2026-fund-service-providers]
What changed
No new binding regulatory requirements are introduced in this publication, which serves as a strategic outlook rather than enforceable rules. Key shifts in risk assessment include elevated operational risks (due to geopolitics, digitalisation, complex models), increased asset valuation/market risks, and rising data/models/AI risks, while inflation/interest rate risks have decreased.
Compliance impact
Urgency: High – This outlook directly previews intensified 2026 supervision, with operational/cyber resilience and consumer protection as "key concerns" likely triggering unannounced inspections and enforcement. Firms risk findings on outdated resilience testing or CPC gaps, especially amid elevated risks; proactive alignment now prevents remediation costs and sanctions, given CBI's efficiency roadmap and international...
In his latest blog, Governor Gabriel Makhlouf argues that economists must adapt their analytical frameworks and expand their focus beyond traditional topics to address emerging challenges—such as geopolitical upheaval and defence spending—in order to provide robust evidence-based policy advice that serves the public…
Central Bank of Ireland and Banca d’Italia are launching the Innovation Data Challenge 2026, a joint initiative designed to foster cutting-edge research and innovation in the retail payments sector. The Challenge reflects the shared commitment of the two Institutions to promoting applied research, international…
Why this matters
This regulatory update announces a joint innovation challenge between the Central Bank of Ireland and Banca d'Italia focused on the retail payments sector. This indicates the regulators' interest in promoting innovation and responsible use of technology in payments, which is relevant for fintechs and payment providers.
In this blog, Governor Gabriel Makhlouf writes about the development of the Digital Euro and how central banks foster trust and safety in the financial system and in the implementation of projects like the Digital Euro.
Why this matters
This regulatory update discusses the development of the Digital Euro, which is relevant for banking, payments, and digital asset firms. It covers consumer protection, prudential requirements, and technological aspects, making it informational in nature.
Governor of the Central Bank of Ireland Gabriel Makhlouf today (25 November) addressed the UK Society of Professional Economists annual dinner . Speaking this evening, Governor Makhlouf said: “Europe is at a pivotal moment in its economic development. The tangle of ageing populations with weak productivity growth…
Why this matters
This speech by the Governor of the Central Bank of Ireland discusses the economic challenges posed by aging populations and weak productivity growth, which are relevant to the banking, investment management, and wealth management sectors.
Gender diversity at senior levels in the regulated financial services sector is increasing but remains insufficient, according to the latest Central Bank of Ireland Demographic Analysis Report . The annual publication analyses applications to hold certain senior roles within regulated firms that require the Central…