ARTICLE
12 April 2017

Licensing Process For Credit Institutions, MiFID Investment Firms, AIFMs, (Re)Insurance Undertakings And Payment Institutions In Ireland

AC
Arthur Cox

Contributor

Arthur Cox is one of Ireland’s leading law firms. For almost 100 years, we have been at the forefront of developments in the legal profession in Ireland. Our practice encompasses all aspects of corporate and business law. The firm has offices in Dublin, Belfast, London, New York and Silicon Valley.
The purpose of this briefing is to summarise the licensing process for (i) credit institutions (banks); (ii) MiFID investment firms; (iii) AIFMs1 ; (iv) (re)insurance undertakings; and (v) payment institutions in Ireland, together with some of the key issues for licence applicants.
Ireland Finance and Banking
To print this article, all you need is to be registered or login on Mondaq.com.

 The purpose of this briefing is to summarise the licensing process for (i) credit institutions (banks); (ii) MiFID investment firms; (iii) AIFMs1 ; (iv) (re)insurance undertakings; and (v) payment institutions in Ireland, together with some of the key issues for licence applicants.

The regulator responsible for licensing and supervising all of the institutions above in Ireland is the Central Bank of Ireland (the CBI). The European Central Bank (the ECB) is also involved in the licensing process for credit institutions under the Single Supervisory Mechanism.

A key issue for all applicant firms is what degree of substance they will require in Ireland in order to meet the CBI's "mind and management" test. There is no black and white test and no set formula to apply. Each application will be considered on its merits on a case-by-case basis and so we recommend that this question is at the top of the agenda for any initial meeting with the CBI.

To view the full report please click here.

This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More