It recognised that the existing rules could be improved so as to provide better protections for investors and so as to be more workable for investment firms. As a result we formed The Client Asset Specialist Team in June 2012. It works with the other supervisory teams to fulfil its specific mandate of ensuring that firms are safeguarding client assets.
With the enactment of the new Central Bank (Supervision and Enforcement) Act 2013, new client asset rules will come into effect next year. We will continue to work to enhance our consumer protection framework at a domestic, European and international level.