Central Bank warns investment firms to better monitor remote-working staff communication

The bank said a recent assessment found that none of the firms included had made amendments to recording of telephone and electronic policies or procedures despite moving from a largely in-office environment during and after covid lockdowns.

The Central Bank of Ireland has said investment firms and credit institutions, who are engaged in securities markets activity, failed to adequately monitor how staff communicate while working from home, raising the risk of market abuse.

The regulator warned in March of the risk of abuse-related conduct arising from the use of unmonitored, unauthorised or unencrypted telephone and electronic communication devices when employees are working remotely or as part of a hybrid model.