IL&P fined €600,000 by Financial Regulator

IL&P fined €600,000 by Financial Regulator

Irish Life and Permanent has been fined €600,000 by the Financial Regulator.

The settlement was reached in relation to breaches in regulatory reporting requirements.

The Regulator said it has reasonable cause to suspect IL&P's internal control mechanisms failed to ensure the accuracy of certain regulatory reports in relation to its banking business.

It also says Irish Life fully cooperated and has been open and transparent throughout the examination.

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