Introduction To Securities Markets Regulation - Central Bank Of Ireland

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In this Section

Securities Markets

• Prospectus Regulation
• EUGB Regulation
• Transparency Regulation
• Short Selling Regulation
• Market Abuse Regulation
• Wholesale Market Conduct
• EMIR Regulation
• Benchmarks Regulation
• Securities Financing Transaction Regulation
• MIFID II Suspensions / Removals
• Securitisation Regulation
• Securities Markets Risk Outlook Reports

Introduction to Securities Markets Regulation

Securities markets regulation is concerned with overseeing the circulation of information about securities that are traded, monitoring the market for the abuse of information or financial resources to manipulate market and prices and supervising the corporate governance of organised markets.

The purpose of securities markets regulation is to promote an efficient and fair securities market.

In Ireland, the legal framework for securities markets regulation is based closely on EU law and a number of EU Directives; the Prospectus Directive, the Criminal Sanctions for Market Abuse Directive, the Transparency Directive and the Markets in Financial Instruments Directive; have been transposed into Irish law. The Short Selling Regulations and Regulation 648/2012 on OTC Derivatives, Central Counterparties and Trade Repositories ("EMIR") and the Market Abuse Regulation are also directly applicable in Ireland.

The Central Bank of Ireland has been appointed competent authority for most of this law. In this capacity as competent authority, it has issued Prospectus, Market Abuse and Transparency Rules.

With regard to the Markets in Financial Instruments Directive, the Central Bank is responsible for the prudential supervision of the Irish Stock Exchange plc (“the ISE”).

Under the European Communities (Markets in Financial Instruments) Regulations 2007, the Main Securities Market of the ISE is a Regulated Market and the ISE is the Market Operator of the Main Securities Market and other markets which are Multilateral Trading Facilities (MTFs).

The Central Bank is responsible for approving the rules of an investment firm or market operator that operates an MTF.

The Central Bank has developed guidelines for investment firms that intend to establish an MTF in Ireland. These Guidelines can be found in the Authorisation Process for MIFID Firms section of this website.

In this Section

• Innovation-Hub
• Central Bank of Ireland Portal
• How We Regulate
• Industry & Market Sectors
  • Brokers / Retail Intermediaries
  • Bureaux de Change
  • Client Assets / Investor Money
  • Credit Institutions
  • Credit Servicing Firms / Credit Servicers
  • Credit Unions
  • Crowdfunding Service Providers
  • Debt Management Firms
  • Electronic Money Institutions
  • Funds Service Providers
  • Funds
  • High Cost Credit Providers
  • Insurance & Reinsurance
  • Investment Firms
  • Money Transmission Businesses
  • Payment Institutions
  • PEPP Provider
  • Retail Credit & Home Reversion Firms
  • Securities Markets
    • Prospectus Regulation
    • EUGB Regulation
    • Transparency Regulation
    • Short Selling Regulation
    • Market Abuse Regulation
    • Wholesale Market Conduct
    • EMIR Regulation
    • Benchmarks Regulation
    • Securities Financing Transaction Regulation
    • MIFID II Suspensions / Removals
    • Securitisation Regulation
    • Securities Markets Risk Outlook Reports
• Anti-Money Laundering and Countering the Financing of Terrorism
• Consumer Protection
• Markets Update
• Protected Disclosures & Whistleblowing
• Markets in Crypto Assets Regulation (MiCAR) 
• Digital Operational Resilience Act (DORA) 
• Unauthorised Firms
• Enforcement
• PSD2
• Central Securities Depository Regulation (CSDR)
• Outsourcing Registers
• Transforming Regulation and Supervision