1.3 Wed 30/09/2020 - 12:00 Reference texts Articles 318-44, 321-77, 321-81 and 323-39 of the General Regulation Articles 47, 48 and 92 of Delegated Regulation (EU) 231/2013 of the European Parliament and of the Council of 19 December 2012 …

The European Banking Authority (EBA) today released its Autumn 2025 risk assessment Report (RAR), confirming that EU/EEA banks remain strong in capital, liquidity, profitability and asset quality. However, the EBA calls for continued vigilance as geopolitical uncertainty, market volatility and increasing operational risks persist. The Report is published alongside the 2025 EU-wide transparency exercise, providing detailed and comparable data for 119 banks across 25 countries of the European Union (EU) and the European Economic Area (EEA), and is supplemented by the Autumn 2025 Risk Assessment Questionnaire (RAQ).

BaFin published warnings about RoboSpark Investor and the website robosparkinvestor(.)com on 10 October 2025 and 31 October 2025.

Cathaoirleach and Committee members, thank you for the invitation to be here today to discuss digital banking.  I am joined by my colleagues Yvonne Madden, Head of Domestic Banks and Retail Credit, and Peter Gallagher, Head of Enforcement Market Abuse and Oversight.IntroductionThe digitalisation of financial services has brought many benefits to consumers. The EU system of regulation provides an important platform from which to continue to innovate in an environment that secures consumers’ best interests. But digitalisation has also changed how, as consumers, we receive services (financial or otherwise) and our norms and expectations around digital services and our use of technology generally continues to evolve. Regulation is playing its role to provide guardrails for this digital evolution by setting out standards for: New types of digital products such as crypto assets (MiCAR)1; Making sure there is continuity and smooth recovery if systems go down (DORA)2; andDealing with the implications of Artificial Intelligence and codifying the requirements and rights of consumers when making payments (PSD)3. Importantly, many of these regulations are prescribed at EU level. This is good because it enables us to access regulated financial services not just from entities incorporated in Ireland but also from firms in other EU Member States.4 Let us also be clear that operating in an EU system of regulation does not mean there is no role for national policies for how this digital evolution occurs. It should also be noted that the substantive requirements of banking regulation are the same for an EU bank whether it provides those services through bricks and mortar premises or digitally, and regardless of which EU Member State it is incorporated in.  But the benefits of digitalisation will only be realised if the risks are appropriately addressed. Just as digitalisation has brought in convenience, additional functionality and lower cost for many consumers, it has also brought new opportunities for criminals to exploit. And, it has resulted in variations and gaps in the nature and quality of service consumers receive, in particular when things go wrong. These are topics on which the Central Bank has work underway, including working with other agencies in Ireland, the EU and internationally, and I welcome the opportunity to explain this work and share our perspective on the path ahead.Digital frauds and scamsTo take one of the key risks, that of digital frauds and scams, the Central Bank’s work can be described under three headings:  First, working with other law enforcement agencies to combat financial crime, to minimise the threat of frauds and scams to which consumers are exposed in the first place. Secondly, continuing to raise standards in the firms we regulate, so they protect and support their customers, including when they fall victim to frauds and scams.Thirdly, supporting public policy and legislation, so we keep pace with the policy implications of technology and the types of criminal behaviour to which consumers are exposed. Under this heading, the Central Bank supports the reforms underway at EU level to strengthen fraud prevention, broaden liability for financial service providers for certain frauds and place additional statutory responsibilities on electronic communications service providers. Evolving our approach to supervising financial services provided digitallyWe are also evolving our supervisory approach to target risks relating to digitalisation more generally, including operational resilience and cyber security. And we see that digitalisation brings increased risks to financial services from technology platforms and means of communication that sit outside financial services. These risks must be tackled if we are to avoid actions outside financial services damaging people’s trust in financial services, while also making sure of course that financial service firms are responsible in how they use technology. Since our previous appearance before this Committee on fraud, the Central Bank has engaged with large technology platforms incorporated in Ireland to get them to implement additional controls to combat unauthorised financial service providers (in some cases with considerable success).  In addition, we are the first authority in Ireland to secure the EU statutory status of "trusted flagger" for financial frauds and scams and we have led coordinated engagement with these technology platforms at a global level.5 We are also introducing new requirements in our Consumer Protection Code from March 2026 to ensure the firms we regulate use technology with a customer focus and not in a way that seeks to unfairly exploit or take advantage of consumers to their detriment. The Code will also enhance protections for consumers in vulnerable circumstances. ConclusionDigitalisation and access to an EU regulated market bring great benefits for us as consumers. Digitalisation also brings new risks and the threat posed by criminals is significant and system-wide work is required. The Central Bank is active in that work at national, EU and international level and we will play our part.It is also accurate to say that there remains a lot that firms can do at a practical level to improve the quality of service they provide, whatever their business model. This too will continue to be an area of focus in our supervisory work, including as we implement new regulatory requirements in 2026.  Thank you for your attention. I and my colleagues are happy to take your questions.[1] New types of digital products such as crypto assets (MiCAR).[2] Making sure there is continuity and smooth recovery if systems go down (DORA).[3] Dealing with the implications of Artificial Intelligence and codifying the requirements and rights of consumers when making payments (PSD)[4] Passporting arrangements also extend to countries in the European Economic Area (EEA)[5] "Trusted flagger" for financial frauds and scams and we have led coordinated engagement with these technology platforms at a global level.

The FCA has charged Mr Henrik Schliemann with 9 criminal offences, including fraud by abuse of position, fraud by false representation and forgery. Mr Schlieman was a director of a merchant bank regulated by the FCA. He was responsible for financial matters and held authority over company accounts.The FCA alleges that Mr Schliemann transferred around $1.45m and €3.1m from company accounts to his own and additionally paid himself over £1.3m in excess dividends.Mr Schliemann appeared before Westminster Magistrates’ Court and gave no indication of plea. The case was sent to Southwark Crown Court, and his next appearance will be on 5 January 2026. Mr Schliemann has been released on conditional bail.Notes to editorsHenrik Oliver Schliemann was born on 27 June 1964. He is a German national resident in the United Kingdom.Fraud by abuse of position is an offence under sections 1 and 4 of the Fraud Act 2006.Fraud by false representation is an offence under sections 1 and 2 of the Fraud Act 2006.Using a false instrument is an offence under section 3 of the Forgery and Counterfeiting Act 1981.Mr. Schliemann held the authorised Director, Compliance Oversight and Money Laundering Reporting Officer functions.

ANNOUNCEMENT BY THE FINANCIAL SERVICES AND MARKETS AUTHORITY, PUBLISHED IN APPLICATION OF ARTICLE 78 OF THE LAW OF 21 NOVEMBER 2017Trading in the financial instruments of Wereldhave Belgium, ISIN BE0003724383, on Euronext Brussels will re-open on 03/12/2025 at 14:00 CET.

ICMA is deeply saddened to learn of the passing of Hans-Joerg Rudloff, who served as Chairman of the International Capital Market Association from June 2005 to May 2011. A defining figure in the development of the international capital markets, he was widely regarded as one of the founding fathers of the Eurobond market and a central architect of its modern form.Mr Rudloff’s contribution to global finance spanned nearly five decades. His career began at Credit Suisse in Geneva in 1965, followed by more than a decade at Kidder Peabody in New York. He returned to Credit Suisse in 1980, a period in which the Eurobond market expanded rapidly, multiplying tenfold over the decade and reshaping international funding practices.As ICMA Chairman, Mr Rudloff guided the Association through a period of exceptional change. His tenure encompassed the global financial crisis, a time that demanded clarity of purpose and firm stewardship. Under his leadership, ICMA divested its commercial operations and refocused its mission on strengthening market standards, improving efficiency in cross-border securities markets, and reinforcing the importance of sound practices across primary, secondary, and repo markets. His influence helped set the direction for the modern ICMA: a public-interest body committed to resilient, well-functioning international capital markets.Even after stepping down from ICMA in 2011 and retiring from investment banking in 2014, Mr Rudloff remained active in the industry. His impact on market structure, on generations of practitioners, and on ICMA’s evolution will be long-lasting.ICMA extends its condolences to his family, friends, and former colleagues. We honour his leadership, his vision for the international capital markets, and his significant contribution to the Association’s history.

The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the websites trodu(.)co and trodu(.)vip, which are nearly identical. According to information available to BaFin, this website is being used to offer financial, investment and cryptoasset services without the required authorisation.

The Board of Directors of the Swiss Financial Market Supervisory Authority FINMA has extended Beat Fellmann’s term of office by one year until the end of 2026.

November 24, Chicago – NFA has ordered Rimar Capital Limited Partnership (Rimar LP), a former NFA Member commodity pool operator located in Netanya, Israel, not to reapply for NFA membership or act as a principal of an NFA Member at any time in the future. NFA also ordered Ryan Philip Gordon, a prior associated person and principal of Rimar LP and former NFA Associate, not to reapply for NFA membership or act as a principal of an NFA Member for two years and to pay a $75,000 fine if he seeks NFA membership or principal status following the two-year period.