When a financial service provider authorised in Ireland by the Central Bank (home state regulator) is operating under a passporting arrangement in another EU member state (host state regulator) the Central Bank, as home state regulator, is responsible for the prudential supervision of that entity.
On that basis, the Central Bank's supervisory responsibilities cover:
- Irish-authorised financial service groups and other providers with a head office in Ireland
- Irish subsidiaries of financial service groups whose head office is authorised by an overseas regulator
- Overseas branches of Irish authorised financial service providers
- Compliance with anti-money laundering regulations by EU branches operating in Ireland
- Compliance with conduct of business rules by all financial service providers operating in Ireland (including those authorised elsewhere)
For specific information on how EU passporting operates under SSM, please refer to the credit institutions
section of this website.