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Gabriel Makhlouf, Governor of the Central Bank of Ireland (above), addressing the association’s annual dinner, revealed that the regulator will be establishing a single Capital Markets & Funds Directorate “to bring together parts of the capital markets universe which are currently housed in different parts of the Central Bank” and “ensure a more integrated and holistic approach to this diverse sector.”
Speaking about “the alphabet soup” of EU regulation, he said there was a need to streamline processes, look for efficiencies, avoid duplication, and improve simplicity, as well as better support innovation and product development to meet the changing needs of investors and the broader evolution of the global financial sector.
“And we need to think about consistency and more appropriate regulatory calibration in order to achieve the right outcomes,” he added.