If you are a journalist looking for independent and informed comment/analysis on regulatory and corporate governance issues, please contact Peter Oakes on +353 1 425 5962 (peter@complianceireland.com). See Peter's profile and a selection of past contributions to Print Press are below.
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Sunday Tribune, 9 May 2010
Those who cry foul on corporate governance whistling in the dark
Peter Oakes, Managing Director, Compliance Ireland writes on proposals for a new corporate governance code on financial institutions, whistle blowing obligations of directors, past experience of others who blew the whistle and the need for greater protection for whistle blowers. Click here
Complinet, 5 May 2010
Irish Corporate Governance Consultation Paper enhances compliance careers, says expert
Peter Oakes, Managing Director, Compliance Ireland comments to Alex Davidson of Complinet about the Irish Financial Regulator's Consultation Paper 41 and what it means for banks, insurers, their boards and especially the opportunities for compliance officers to seize the initiative to demonstrate their 'value-add'. Click here (see also 9 May 2010 article in Sunday Tribune)
Herald, 4 May 2010
Banks could soon offer €15k to ditch trackers
Another article on banks examining their mortgage contracts to see if they can get out of tracker mortgages raised by Peter Oakes on RTE radio on 14 April 2010. See main story below.
KYC360° & Society of Trust and Estate Practitioners (STEP) , 4 May 2010
Ireland: Irish Parliament Finally Passes New Law to Transpose the 3rd EU Directive
Peter Oakes, Managing Director, comments to KYC360° and STEP members on the passing on Wednesday 28 April 2010 of the Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009. The article recommends the way that MLROs/MLPOs should read the Bill. Click here to read in pdf (see our AML Resource section here)
Radio & Print - Banks examine whether they can get out of ECB tracker rate mortgages, 18 April 2010
On 15 April on the Morning Ireland radio interview (see below), Peter Oakes raised an issue of banks examining their mortgage contracts with borrowers to see if they can get out of these type of mortgages which are costing some banks dearly. Since the comment was made we have been contacted by many consumers and journalists. These persons confirmed their experience of banks looking to wriggle out of ECB trackers. The Sunday Business Post quotes an unnamed bank employee who informed the paper of some of the angles banks are examining. Apparently a number of lenders have denied that have examined the issue. If that is the case then we should expect that the Irish Banking Federation (speaking on behalf of the banks) or the banks themselves to give a commitment to borrowers on ECB trackers that the banks will not seek to alter the promises made to consumers despite any fine print in the mortgage contracts. Radio interview here. Here are some of the articles:
Independent: Article 1 - 16 April 2010 / Article 2 - 17 April 2010
Sunday Business Post: Article - 18 April 2010
Sunday Times: Article - 18 April 2010
KYC360° & Society of Trust and Estate Practitioners (STEP) , 12 April 2010
Ireland: Update on the yet further delayed transposition of 3rd Directive
Peter Oakes, Managing Director, comments to KYC360° and STEP members on update on Irish AML & CTF Bill following its Report Stage in Seanad Éireann at the end of March 2010. Click here to read in pdf.
Sunday Tribune, 11 April 2010
Sean Quinn's Risk Business
Peter Oakes, Managing Director, Compliance Ireland, comments on solvency issues relating to Quinn Insurance to business reporter, John Ihle of the Sunday Tribune. Click here to read article.
KYC360° & Society of Trust and Estate Practitioners (STEP) , 8 April 2010
Ireland – New Authorisation and AML/CTF Compliance Requirements for TCSPs
Peter Oakes, Managing Director, comments to KYC360° and STEP members on new authorisation and AML/CTF compliance obligations on Trust or Company Service Providers. Click here to read in pdf.
Sunday Tribune, 4 April 2010
Ireland faces millions in fines for finance crime law delay
Peter Oakes, Managing Director, Compliance Ireland, comments on lack of enforcement powers available to Financial Regulator to enforce the 3rd EU AML Directive to business reporter, John Ihle of the Sunday Tribune. Click here to read article.
Sunday Tribune, 28 March 2010
Apocalypse now? Banks enter crisis week
Peter Oakes, Managing Director, Compliance Ireland, comments to business reporter, John Ihle of the Sunday Tribune on new laws for, and powers required by, the Financial Regulator as Minister Lenihan prepares to issue draft law. Click here to read article.
Sunday Tribune, 21 March 2010
Regulatory changes lead to rush on training
Compliance Ireland a leading provider of regulatory advisory and compliance training services talks about an increase in training assignments following new head of financial regulation, Matthew Elderfield, delivered his first public speech. Click here to read article.
FinFacts.ie, 12 March 2010
New head of financial regulation in Ireland outlines plans for more effective supervision
Peter Oakes, Managing Director, Compliance Ireland, comments to www.finfacts.ie on the first public speech by Ireland's chief Financial Regulator (Matthew Elderfield) and what this means for banks and Ireland's financial industry.
- Click here to read article in pdf
- Click here to read on-line.
Sunday Tribune, 07 March 2010
Financial Regulator seeks to impose bigger fines to enforce compliance
Peter Oakes, Managing Director, Compliance Ireland, comments to business reporter, John Ihle of the Sunday Tribune, on reports that the Financial Regulator is to ramp up its enforcement activities. Click here to read article.
Sunday Independent, 07 March 2010
The 10 cardinal banking questions
Peter Oakes, Managing Director, Compliance Ireland, comments to Louise McBride, of the Sunday Independent, on white collar crime and evidential issues affecting investigations into Irish banks and their senior management. Click here to read article.
Sunday Tribune, 28 February 2010
Investment firms to face tough fines for transaction irregularities
Peter Oakes, Managing Director, Compliance Ireland, comments to business reporter, John Ihle of the Sunday Tribune, on the Financial Regulator's speech at recent MiFID Seminar signaling ramp-up in investigations and enforcement actions. Click here to read article.
KYC360° & Society of Trust and Estate Practitioners (STEP) , 1 March 2010
Ireland: Update on Transposition of 3rd Directive and PEP Test
Peter Oakes, Managing Director, comments to KYC360° and STEP members on update on Irish AML & CTF Bill following passing in Dáil Éireann on 17 February 2010 and observations of new PEP test. Click here to read in pdf.
KYC360° & Society of Trust and Estate Practitioners (STEP) , 1 February 2010
New Irish DNA Database to Combat Crime and Terrorism
Peter Oakes, Managing Director, comments to KYC360° and STEP members on new DNA database to be used to combat crime and terrorism, use of genetic data by Garda in Bank of Ireland robbery and arrest of Bank employee as concerns about inside job grow.
- Click here to read in pdf.
- Click here to read on line.
KYC360° & Society of Trust and Estate Practitioners (STEP) , 4 January 2010
Irish Financial Regulator to be Given Tough New Powers to Supervise and Enforce Money Laundering Requirements
Peter Oakes, Managing Director, comments to KYC360° and STEP members on new powers for the Financial Regulator to inspect regulated firms under proposed new Irish law. Click here to read on-line at KYC360° (or here to read in pdf).
KYC360° & Society of Trust and Estate Practitioners (STEP) , 7 December 2009
Filing a Suspicious Report After a Transaction: Position in Ireland Under New Law
Peter Oakes, Managing Director, comments to KYC360° and STEP members on exemption to report suspicious transactions under proposed new Irish law. Click here to read on-line at KYC360° (or here to read in pdf).
Sunday Business Post, 6 December 2009
Honohan's home truths rattle the bankers' cages
Peter Oakes, Managing Director, Compliance Ireland, comments to Richard Curran of the Sunday Business Post, on the speech by the Governor of the Central Bank regarding previous failings at the Financial Regulator and the approach for the future.
Click here to read in pdf (or here to read on-line).
Click here to read our Newsletter 11/2009 on Governor Honohan's speech.
Click here to watch Governor Honohan's speech.
KYC360° & Society of Trust and Estate Practitioners (STEP) , 2 November 2009
Ireland Extends PEP Test to Include Cohabitants of Family Members
Peter Oakes, Managing Director, comments to KYC360° and STEP members on extended PEP test for Ireland. Click here to read on-line at KYC360° (or here to read in pdf).
Sunday Tribune, 25 October 2009
Bermudan must make bad banking disappear
Peter Oakes, Managing Director, Compliance Ireland, article on new new head of Irish Financial Services Regulatory Authority and the issues he will face. Click here to read on-line (click here to read in pdf).
AML Master Australia, 13 October 2009
Ireland catches up with 3rd EU AML Directive
Peter Oakes, Managing Director, contributes article to AML Master magazine on Ireland's transposition of the 3rd EU AML Directive. Click here to read on-line at Sunday Tribune (or click here to read in pdf).
to read.
KYC360° & Society of Trust and Estate Practitioners (STEP) , 5 October 2009
Ireland to Move to an Objectivity Test for Reporting of Suspicions
Peter Oakes, Managing Director, comments to KYC360° and STEP members on new objectivity test for reporting suspicious transactions. Click here to read on-line at KYC360° (or here to read in pdf).
Accountancy Ireland, October 2009 edition
Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009
Kevin O'Doherty, Director, Compliance Ireland, comments on the implications of the draft legislation to implement the Third EU Anti-Money Laundering Directive in Ireland. Click here to read.
KYC360° & Society of Trust and Estate Practitioners (STEP) , 7 September 2009
Keep an Eye on the Employees Too
Peter Oakes, Managing Director, comments to KYC360° and STEP members on financial crime perpetrated by employees. Click here to read on-line at KYC360° (or here to read in pdf).
Finance Dublin, 21 August 2009
IFSC must take some responsibility for uninformed media coverage of itself
Peter Oakes, Managing Director, comments on Finance Dublin Top Executive Survey of IFSC Issues in 2009. Click here to read.
KYC360° & Society of Trust and Estate Practitioners (STEP) , 6 August 2009
Ireland introduces new AML/CFT Laws to meet international obligations
Peter Oakes, Managing Director, comments to KYC360° and STEP members on Ireland's new proposed anti-money laundering/counter-financing of terrorism obligations. Click here to read on-line at KYC360° (or here to read in pdf).
Finance Dublin, June 2009
UK reforms preserve its principles based regime
Kevin O'Doherty, Director, Compliance Ireland comments on the proposed regulatory reforms at the FSA and what lessons they may hold for Ireland. Click here to read article.
Indebted Anglo mangers may not pass 'fitness' code
Peter Oakes, Managing Director, Compliance Ireland, comments to business reporter, John Ihle of the Sunday Tribune, on the need for for investigation by Financial Regulator into continuing 'fitness & probity' of managers of Anglo Irish Bank with impaired loans. Click here to read article.
Journal of Securities Law, Regulation & Compliance, Volume 2, Number 2, April 2009
The changing corporate governance scene in Ireland for offshore
financial services
Kevin O'Doherty, Director, Compliance Ireland comments on the corporate governance challenges for financial services entities and how these are addressed in the Irish regulatory framework. Click here to read article.
Finance Magazine, March 2009
Coping with new corporate governance challenges
Kevin O'Doherty, Director, Compliance Ireland comments on the corporate governance challenges thrown up by recent market events. Click here to read article.
eFinancial, 17 March 2009
What happened to the rush of anti-money laundering recruitment?
Peter Oakes, Director, Compliance Ireland comments upon upcoming new AML/CFT laws to be introduced in Ireland under the 3rd EU AML/CFT Directive and impact upon AML recruitment. Click here to read article
IrishEconomy.ie, 10 March 2009
A Canadian Model (of regulation for Ireland)
Peter Oakes, Director, Compliance Ireland responds to comments made in Irish blog regarding proposed Canadian model of regulation for Ireland. Click here to read (or read in pdf version here)
Sunday Tribune, 15 February 2009
Anglo, IL&P face €5m fine over deposits
Peter Oakes comments on another scandal rocking Ireland's banking sector falling allegation of circular transactions by two regulated bodies. Click here to read article.
Sunday Tribune, 21 December 2008
Ireland will become the 'wild west' of European finance?
Peter Oakes comments on the fallout of the 'loans affair' at Anglo Irish Bank and resignation of Chairman, NED and Chief Executive and who should be held accountable. Click here to read article.
SpamFighter.com, 14 November 2008
ILCU Warns About Hoax E-mail Targeting Credit Union
Peter Oakes comments on on a sinister phishing email scam targeting credit union members. Click here
to read in pdf. Click here to read in html (at www.spamfighter.com)
Irish Times, 31 October 2008
Warning over bogus credit union e-mail
Peter Oakes comments on a sinister phishing email scam targeting credit union members. Click here to read article.
Eircom (Breaking News), 30 October 2008
Warnings over credit union e-mail scam
Peter Oakes comments on a sinister phishing email scam targeting credit union members. Click here to read article.
Sunday Times, 26 October 2008
Down and out on billionaires' row
Peter Oakes comments on Quinn Insurance fine. Click here to read article
Sunday Tribune, 26 October 2008
Why did Quinn agree the facts and penalties in Ireland's highest regulatory fine?
Peter Oakes comments on the reasons why Quinn Insurance and its Chairman agreed Ireland's highest regulatory fines - €3,450,000. Click here to read article.
Sunday Independent, 5 October 2008
McDonald's more palatable bet than Irish Government Peter Oakes comments on credit-worthiness of Irish Government compared to McDonald restaurant chain following Irish government's guarantee of local banking system. Click here to read article.
EU Countries Getting in Line with AML Regulations on Heels of Warning Letters 18th August 2008 (moneylaundering.com). Peter Oakes comments on recent EU infringement action against Ireland and other countries. Click here to read article.
Scrutiny Increased for Firms Seeking MiFID Authorisation, Says Compliance Ireland’s Oakes 1st September 2008. Peter Oakes comments on MiFID inn Ireland and Europe (MiFIDMonitor.com). Click here to read article.
French banks deny wrongdoing in laundering case as trial gets under way 6th February 2008 (Business Risk Research). Peter Oakes, Compliance Ireland comments upon AML prosecutions against French bank CEOs. Click here to read article.
Finance Magazine September 2007
'The race to implement MiFID'
Kevin O'Doherty, Compliance Ireland outlines the status of the MiFID project as national legislatures and regulators struggle to roll out the foundations of this complex pan-European system of regulation. Click here to read article.
Sunday Business Post, 1 July 2007
‘Corporate MacCarthynism'
Peter Oakes, Compliance Ireland comments upon recent criticism of Irish regulation. Click here to read article.
Sunday Business Post, 17 June 2007
‘Forewarned is forearmed in fight against scams’
Peter Oakes & Kevin O’Doherty of Compliance Ireland comment upon recent consumer and investor fraud scams operating in Ireland. Click here to read article.
Sunday Times, 10 June 2007
‘Are You Ready To Comply?’
Peter Oakes, Compliance Ireland comments upon compliance obligations of senior managers below board level. Click here to read article.
Irish Independent, 5 September 2006
'Bank agrees to compensate victims of internet swindle'
Peter Oakes, Compliance Ireland, comments on the recent spate of phishing emails targeting Irish consumers. Click here to read the article. Further reading: Compliance Ireland's Press Release dated 26 August 2006 is available by clicking here.
Government reports - Central Bank of Kuwait, Anti-Money Laundering & Combating the Financing of Terrorism Conference, November 2006
Peter Oakes, Compliance Ireland, presents a paper on financial crime in Kuwait at the invitation of the Kuwait Government. Click here for the programme and click here for a copy of presentation
Finfacts, 5 September 2006
The Irish Independent reports that consumers who were victims of an online banking swindle have been compensated quietly by Bank of Ireland.
Peter Oakes, Compliance Ireland, comments on the recent spate of phishing emails targeting Irish consumers. Click here to read the article. Further reading: Compliance Ireland's Press Release dated 26 August 2006 is available by clicking here.
Government reports - reports from the UK Attorney-General's office on fraud
(a) UK Fraud Review Final Report, July 2006. Peter Oakes, Compliance Ireland, quoted for statistics on fraud levels in Ireland by UK Government (see page 376). Click here to read report
(b) NHS Counter Fraud and Security Management Service, The International Fraud and Corruption Report, July 2006. Peter Oakes, Compliance Ireland, quoted for statistics on fraud levels in Ireland by UK Government (see pages 80, 129, 130 & 139). Click here to read report
Irish Times, 18 January 2006
'Standards in Financial Regulation'
Peter Oakes, Compliance Ireland, in Letters to the Editor. click here to read article
Operational Risk & Compliance Magazine (UK), 1 November 2005
'No insurance against money laundering',
Peter Oakes, Compliance Ireland, comments on money laundering in the insurance industry. click here to read article
Compromise of FinCEN e-mail service raises questions about data security, 23 September 2005
Peter Oakes, Compliance Ireland, comments on data security as US Financial Intelligence Unit (moneylaundering.com). click here to read the article.
Alert Global Media, 10 August 2005
Peter Oakes, Compliance Ireland, comments on anti-money laundering issues arising out of the Financial Regulator's Annual Report 2004; click to read article
Sunday Business Post, 31 July 2005
Peter Oakes, Compliance Ireland, comments on estate agents' anti-money laundering obligations and occurrences of mortgage fraud in the Irish market following recent Garda investigations - Article 3 of 3 click to read article
Sunday Business Post, 31 July 2005
Peter Oakes, Compliance Ireland, comments on estate agents' anti-money laundering obligations and occurrences of mortgage fraud in the Irish market following recent Garda investigations - Article 2 of 3 click to read article
Sunday Business Post, 31 July 2005
Peter Oakes, Compliance Ireland, comments on estate agents' anti-money laundering obligations and occurrences of mortgage fraud in the Irish market following recent Garda investigations - Article 1 of 3 click to read article
Complinet, 26 July 2005
Peter Oakes, Compliance Ireland, comments on estate agents' anti-money laundering obligations click to read article
Alert Global Media, 5 July 2005
Peter Oakes, Compliance Ireland, comments on accountants' anti-money laundering obligations click to read article
Sunday Business Post, 19 June 2005
Peter Oakes comments on white collar crime, money laundering and phising click to read article
Sunday Business Post, 10 April 2005
Peter Oakes comments on companies' and financial institutions' Compliance Statements and anti-money laundering obligations click to read article
Main Press page here
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Updates to affiliated websites
- Our anti-money laundering website updated - www.antimoneylaundering.ie
- Data Protection & Privacy website - www.privacy.ie
- MiFID Ireland website updated - www.mifid.ie
- Compliance Jobs updated - www.compliancejobs.ie
- Funds Jobs updated - www.fundsjobs.ie