Recently, the Central Bank has issued the areas where it will focus its enforcement efforts in 2014 as well as the areas of focus for its "themed inspections" for the year. Since 1 August 2013, the administrative sanctions procedure is fully applicable to credit unions so enforcement priority areas for that sector have also been identified for the first time. There is an emphasis on governance, systems and controls cross all industry sectors and a few areas of specific interest to the Central Bank including MiFID Conduct of Business rules, Fitness and Probity and Anti-Money Laundering.
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