Regulatory Responsibilites - Information

European directives drive markets and securities regulation. In Ireland, the ISE sets listing requirements for issuers. The ISE is also authorised by the Central Bank of Ireland to operate its three securities markets – the Main Securities Market (MSM), the Enterprise Securities Market (ESM) and the Global Exchange Market (GEM).

What are we responsible for?

Setting requirements for:

  • listing of securities on our markets
  • admission of securities to trading on our markets
  • admission of member firms and traders, sponsors and ESM advisors
  • reporting of trading activity by member firms

Reviewing and approving:

  • listing particulars of debt securities admitted to the GEM
  • listing particulars for open ended investment funds
  • listing and trading applications

Monitoring:

  • compliance by issuers with our rule books
  • compliance by member firms, sponsors and ESM advisors with our rule books
  • market activity for potential disorderly trading or market abuse

Reporting:

  • potential market abuse to the Central Bank of Ireland for further investigation
  • certain breaches of the Companies Acts to the Office of the Director of Corporate Enforcement

Investigating:

  • suspected insider dealing on the ESM and GEM and reporting this to the Office of Director of Corporate Enforcement

How do we carry out our responsibilities?

  • we set rules for listing and admission to trading for issuers of securities
  • we provide corporate governance disclosure requirements for equity issuers
  • we set rules member firms, sponsors and ESM advisors
  • we have four Regulatory Committees
  • we monitor disclosures, news and market activity to identify potential breaches, disorderly trading and market abuse
  • we monitor issuers on our markets and the activities of member firms, sponsors and ESM advisors for compliance with our rule books

What are we authorised as?

Authorisation

Authorised by

Regulatory Basis

What this means?

The Competent Authority for Listing

Department of Jobs, Enterprise and Innovation

European Communities (Admission to Listing and Miscellaneous Provisions) Regulations 2007, as amended

We admit securities to listing in Ireland. Find out more about how to list debtsharesinvestment funds and exchange traded funds (ETFs) on our markets.

National Numbering Agency

ANNA (the Association of National Numbering Agencies)

www.anna-web.org

We provide ISINs (International Security Identification Number & CFI (Classification of Financial Instrument) codes for securities domiciled in Ireland. Find out more about our ISIN and CFI services.

Regulated Market and Multilateral Trading Facility (MTF) provider

Central Bank of Ireland

European Communities (Markets in Financial Instruments) Regulations 2007

We operate 3 markets for securities:

  • Main Securities Market (regulated market)
  • Enterprise Securities Market (MTF)
  • Global Exchange Market (MTF).

Pre-LOU (Legal Operating Unit) in Ireland

Sponsored by the Central Bank of Ireland and endorsed by the Regulatory Oversight Committee (ROC)

www.leiroc.org

We issue LEI (Legal Entity Identifiers) - a global reference code which uniquely identifies each legal entity that engages in a financial transaction. Find out more about our LEI services.

Official Authorised Mechanism

The Central Bank of Ireland

Transparency (Directive 2004/109/EC) Regulations 2007

We store “regulated information” as defined under the Transparency Directive so investors can access it easily.

What are others responsible for?

Agency

Responsibilities

Central Bank of Ireland

regulates investment firms and stockbrokers including

  • client monies
  • conduct of business
  • consumer protection

reviews and approves prospectuses under the Prospectus Directive (Main Securities Market)

monitors disclosure of information under the Transparency Directive (Main Securities Market)

investigates market abuse (Main Securities Market)

The Irish Takeover Panel

monitors takeover activity of Irish companies

Financial Services Ombudsman

investigates and decides on complaints against stockbrokers and investment firms

Competition and Consumer Protection Commission

provides information about consumer rights and personal finance

Investor Compensation Company Limited

manages the Investor Compensation Scheme

Office of the Director of Corporate Enforcement

prosecutes insider dealing relating to the Enterprise Securities Market and Global Exchange Market

Irish Auditing and Accounting Standards Board (IAASA)

examines annual and half-yearly financial reports of issuers for disclosure under the Transparency Directive

Rule books

Regulatory Committees

Committee

Role

Admissions

approve admission of member firms, sponsors and ESM advisors

Rules

review and approve proposed changes to ISE rule books

Discipline

hear and rule on disciplinary cases under the ISE rule books

Appeals

hear appeals allowed under the ISE rule books

Terms of reference for Regulatory Committees (121 KB)