Enforcement action sees two directors disqualified

The Central Bank of Ireland took enforcement action against 10 financial providers, securing the disqualification of two directors and collecting fines of €5m last year.

Deputy governor of the Central Bank, Matthew Elderfield, said that this year their enforcement efforts would be prioritising mortgage arrears, retail intermediaries, payment protection insurance and client asset requirements.

Speaking at the Central Bank of Ireland Stakeholder Conference, Mr Elderfield said the bank had invested in training to give their enforcement teams more teeth.