Blanaid ClarkeFrom: Liability of Financial Supervisors and Resolution Authorities
Edited By: Danny Busch, Christos Gortsos, Gerard McMeel QC
This chapter describes and discusses the civil liability of the Irish Central Bank (CBI), the single financial services supervisor in Ireland. It examines the possible private law claims for damages. These are: (1) actions for breach of statutory duty simpliciter (i.e. irrespective of negligence); (2) actions based solely on the careless performance of a statutory duty in the absence of any other common law right of action; (3) actions based on a common law duty of care arising either from the imposition of the statutory duty or from the performance of it; and (4) misfeasance in public office. The chapter also examines the liability of the state for the actions or inactions of the CBI. Finally, it considers the circumstances in which statutory immunity may protect the state or the CBI from liability arising from a breach of EU or national law.