Introduction to Supervisory Disclosures

Supervisory Disclosure is viewed as a comprehensive policy of transparency.  Its aim is to make information related to prudential supervision available in a timely manner to all interested parties, including credit institutions, investment firms, other market participants, other supervisors, and consumers.  The Central Bank’s intention is to present a comprehensive overview of supervisory and regulatory practice in Ireland; to provide easy access to more detailed information; and to permit meaningful comparison of the approaches adopted by the national authorities in different Member States. The Central Bank of Ireland is obliged to publish Supervisory Disclosures for Investment Firms in accordance with Article 57(1)-(5) of IFD, as transposed by Regulation 51 of SI 355/2021.

IFD Supervisory Disclosures

The IFD framework for Investment Firm supervisory disclosures is set out in Article 57(1)-(5) of the Investment Firms Directive (IFD), as transposed by Regulation 51 of SI 355/2021. This requires competent authorities to disclose certain information in order to ensure increased transparency in key areas. The information disclosed should also be sufficient to enable a meaningful comparison of the approaches adopted by the competent authorities of the different Member States.

In accordance with Regulation 51 of SI 355/2021 the Central Bank of Ireland will publish the following information on its website:

  1. the texts of laws, regulations, administrative rules and general guidance adopted in the State pursuant to the Investment Firms Directive;
  2. the manner of exercise of the options and discretions available pursuant to the Investment Firms Directive and to Regulation (EU) 2019/2033;
  3. the general criteria and methodologies the Bank applies in the supervisory review and evaluation referred to in Regulation 32;
  4. aggregate statistical data on key aspects of the implementation of these Regulations and of Regulation (EU) 2019/2033 in the State, including the number and nature of— (i) supervisory measures taken in accordance with Regulation 35(1)(a), and (ii) administrative sanctions imposed in accordance with Regulation 16 and Part IIIC of the Act of 1942.

Further to the relevant, Commission Implementing Regulation [(EU) 2022 389],Competent Authorities shall publish the information listed, above for the first time by 30 June 2022.

Supervisory Disclosures under IFD is divided into the following sections

European Banking Authority (EBA)

Supervisory Disclosure pages of each national authority can be accessed through the EBA website