The Revised Client Asset Requirements:

Industry engagement session



Date: 3rd March 2023

On Thursday 2nd March, the Central Bank of Ireland’s Client Asset Supervision Team (CAST), Miriam Dunne, Head of Function, Investment Firm and Client Asset Supervision, Fiona Daly, CAST Lead and Louise Murtagh, CAST Senior Supervisor outlined the evolution of the Irish client asset regime, the principle of risk management including the new requirements in respect of the client asset management plan as contained in the revised Client Asset Requirements (CAR) and provided an overview of the recently published revised Monthly Client Asset Report.

The protection of client assets is a key priority for the Central Bank. CAST has cross-sectoral ownership within the Central Bank for client asset risk and the primary role of CAST is to supervise and inspect client asset arrangements and monitor the risks to the safekeeping of client assets in relevant entities.

In recent years, significant work has been undertaken by CAST to further strengthen and enhance the Irish client asset regime, including revising and updating CAR and associated guidance.