The message from the central bank is that responsibility cannot be outsourced

BNY Mellon’s record €10.8 million fine yesterday should send a message: regulators are cracking down on outsourcing practices by IFSC firms.

The central bank has fined companies heavily in the past – most notably the banks for their tracker mortgage shenanigans – but the international funds sector here has never before seen a fine in the tens of millions.

https://www.independent.ie/business/irish/central-banks-message-is-that-responsibility-cant-be-outsourced-41484808.html The message from the central bank is that responsibility cannot be outsourced

Fry Electronics Team

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