Aviva Investors Ireland Limited

The Central Bank has previously highlighted through enforcement action, our Enforcement Strategy 2011-2012 and media commentary, its concerns relating to failure to comply with the CAR and the MiFID Regulations. Compliance with the CAR is a vital safeguard for the protection of client assets. Non-compliance with this important accounting and internal control obligation is not only an enforceable matter but also erodes the special trust customers assume when dealing with regulated institutions. The CAR is a priority area for the Central Bank and we will continue to focus our supervisory and enforcement resources to help achieve acceptable standards of compliance with this important safeguarding requirement. Those who continue to fall short of the required standards are an unacceptable risk not only to their customers but also to the Central Bank achieving its statutory objective and high level goals of ensuring that the best interest of consumers of financial services are protected and ensuring the proper and effective regulation of financial institutions. Firms should monitor and test internal policies and procedures to ensure that they are effective so as to minimise the potential for non-compliance with the Regulations or binding requirements issued under the Regulations.