How is Anglo Irish Bank regulated?
Anglo Irish Bank is authorised by the Central Bank of Ireland and is subject to limited regulation by the Financial Services Authority in the UK. Details about the extent of our regulation by the Financial Services Authority are available from us on request. On 1st November 2009, the Financial Services Authority introduced a new set of Rules and Guidance by which they will supervise Banks which accept Retail Deposits in the UK. The new Rules and Guidance are referred to as the Banking Conduct of Business Rules (“BCOBS”) and they place particular emphasis on the fair treatment of customers.These regulations replace the Banking Code (a voluntary code to which we were a signatory), which regulated savings accounts and was enforced by the Banking Code Standards Board (“BCSB”). With effect from 1stNovember 2009 our Terms and Conditions must comply with both the Payment Services Regulations and BCOBS. As a result BCSB will not have any responsibility over savings products from 1stNovember 20
