Reporting Requirements for Brokers / Retail Intermediaries

From July 2011, the Central Bank of Ireland moved to a more risk-based approach to the supervision of regulated firms and accordingly each regulated firm is now required to submit relevant key information as a key part of this approach.

Investment Intermediaries (under the Investment Intermediaries Act 1995 (as amended)

Annual Returns

In order to carry out our supervisory functions, an annual return will be collected from all regulated investment brokers / intermediaries via a secure web-based electronic reporting system.

Access your online return.

Please view the user manuals to assist you in completing your return.

Annual Audited Accounts

Investment Brokers / Intermediaries must prepare annual audited accounts within six months of the relevant reporting period. These may be requested by the Central Bank of Ireland at any time following this six month period.
Direct parents of the Investment Broker/Intermediary must prepare annual audited accounts together with the accounts of any firm within the group specified by the Central Bank of Ireland, which may also be requested by the Central Bank of Ireland.

Breaches

Investment Intermediaries are required to report any material breaches of legislative or supervisory requirements to the Central Bank of Ireland.

Handbook of Prudential Requirements for Investment Intermediaries

Statutory Duty Confirmations

Auditors must make a written report to the Central Bank of Ireland stating whether or not circumstances have arisen that require the auditor to report a matter to the Central Bank of Ireland under a prescribed enactment and if such circumstances have arisen to specify those circumstances. Section 33 of the Investment Intermediaries Act, 1995 is listed as a prescribed enactment for the purpose of this section of the CBFSAI Act, 2004.

This is an ongoing requirement and the Central Bank of Ireland should receive such reports every year from the external auditor.

The report should be submitted to the Central Bank of Ireland within one month of the date of the auditor’s report on the financial statements or such extended period as the Central Bank of Ireland allows. The period covered by the statutory duty confirmation commences from the date of issue of the previous declaration. It covers all matters that require the auditor to report to the Central Bank of Ireland in respect of the specified period.

The Institute of Chartered Accountants in Ireland, in consultation with the Central Bank of Ireland, has prepared guidance on reporting to the Central Bank of Ireland under the CBFSAI Act, 2004. A pro-forma report to be used by auditors is set out in Miscellaneous Technical Statement M46 issued by the Institute of Chartered Accountants in Ireland, in September 2006.

Statutory Duty Confirmation reports can be submitted via email to [email protected] as a Word or PDF attachment.

Insurance/reinsurance Intermediaries (under the European Union (Insurance Distribution) Regulations 2018)

Insurance brokers/intermediaries are subject to ongoing prudential monitoring of their compliance with the registration requirements, which includes holding an adequate policy of professional indemnity insurance.

Annual Returns

In order to carry out our supervisory functions, an annual return will be collected from all regulated insurance brokers / intermediaries via a secure web-based electronic reporting system.

Click here to access your online return

Mortgage Intermediaries (under the Consumer Credit Act 1995 (as amended)) and Mortgage Credit Intermediaries (under the European Union (Consumer Mortgage Credit Agreements) Regulations 2016)

Annual Returns

In order to carry out our supervisory functions, an annual return will be collected from all regulated mortgage brokers / intermediaries via a secure web-based electronic reporting system.

Click here to access your online return

Please note-

All brokers / retail intermediaries are obliged to comply with such requirements as applied to them through other legislation (i.e. if regulated as a retail investment intermediary or a registered company - please refer to Company Law requirements).