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CP86 Fail to Prepare, Prepare to Fail

As we near the deadline (31 March 2021) for firms to critically assess their daily operational, resourcing and governance arrangements against all relevant rules and guidance following the publication of the Central Bank of Ireland’s (Central Bank) Dear CEO letter, now is the time to reach out and allow GECKO Governance to do the heavy lifting.

What is GECKOs CP86 Compliance Solution?

GECKO is the best possible solution for the management team, board and Designated Persons (DP’s) to manage and control the burden of responsibility that is placed with CP86.

If you looking for a better way to have complete…


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What is Pen-testing?

Short for penetration testing, pen-testing is a simulated cyber attack on your system to find weaknesses before attackers do. It is used to automate certain tasks, improve testing efficiency and discover issues that might be difficult to find using manual analysis techniques alone.

Who are OnSecurity?

OnSecurity replaces the overhead of traditional penetration testing firms with a simple online interface. This puts the client back in the driving seat, making it easy to book tests as and when needed.


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Covid-19 has put GECKO in a unique position as it has highlighted to companies their need for oversight software in their companies, making FinTechs more topical than ever.

The pandemic has proved excellent at uncovering many opportunities, and in this case, the opportunity lies in the FinTech industry. Having executed the largest business continuity exercise of their history, the first lesson is the need for state of the art technology, ensuring that there is continued professional delivery of services in such volatile and pressurised conditions, while remaining highly responsive to increased information and data requests from regulators and other stakeholders.


In our earlier GECKO Governance article, “Central Bank of Ireland Publishes CP86 Review Findings”, which can be accessed here we considered the second “Dear CEO” letter issued by the Central Bank of Ireland (Central Bank) on 17 November 2020.

In this follow-up article, we have illustrated how our software can assist with overcoming weaknesses found in firms’ compliance with Fitness & Probity Regime (F&P) and the need to plan for the additional compliance and HR requirements that the new Senior Executive Accountability Regime (SEAR) will involve.

In the last three years, three firms have been sanctioned by the CBI for…


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Escape Spreadsheet Hell

Spreadsheets have been the backbone of financial services for decades, having been around since 1985, even though technology has changed dramatically along the way. They have many great features and is often seen as the go-to tool to get the job done. When things go wrong however, they can go very wrong — as illustrated by the most recent system failure in the UK where an excel spreadsheet error meant almost 16,000 cases of COVID-19 went unreported.

There’s nothing inherently wrong with spreadsheets; they are excellent tools for many different jobs, but data visualisation and data communication is not one…


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Unsplash Image

This summer I went through a great experience of re-designing our company’s website. It wasn’t just any exercise of changing some fonts and colours but the whole process of redoing the website from scratch, very daunting I know but it was only possible because of resources provided by our friends at Centrality and of course a lot of guidance by my colleagues.

Anyway here is link to the the end result. Nice yeah ? So let’s see how to create something similar with least amount of friction.

Fonts and Colours

First thing first, when creating a website the first thing that you want…


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On 20 October 2020, the Central Bank of Ireland (‘Central Bank’) issued a “Dear Chair” Letter to industry outlining the findings of its review of the implementation by Irish fund management companies (‘FMCs’) of the Central Bank’s framework Consultation Paper 86, otherwise known as (‘CP86’).

In essence, CP86 was introduced to ensure that the required effectiveness and systems of governance, management and organisation are in place at FMCs to protect investors’ best interests. To assess the behaviour of ManCos, the regulatory review was carried out in three phases which uncovered widespread deficiencies in three main areas:

  • Resourcing;
  • Oversight; and
  • Risk…

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Consultation Paper 86, otherwise known as (‘CP86’) was introduced by the Central Bank of Ireland (‘Central Bank’) to identify standards of industry compliance in order to form a supervisory approach for fund management companies (‘ManCos’) and to ensure that the required effectiveness and systems of governance are in place to protect investors’ best interests. It was also an opportunity for the Central Bank to set out clear expectations of how Directors and Designated Persons should carry out their role and how best to demonstrate compliance.

To assess the behaviour of ManCos, the Central Bank carried out a CP86 Thematic Review…


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Of late, there have been two catchphrases that are a constant feature in the financial services realm — Fintech & RegTech. More often than not, these terms are used interchangeably by the industry.

An increasing regulatory burden, potential cost of failure and audit anxiety can make managing compliance both challenging and time-consuming. In addition, the rapid evolution of technology poses new challenges for the Authorities responsible for governing the finance sector.

Now, a new concept has emerged: ManCoTech.

Firstly, let’s break down what these terms actually mean.

‘FinTech’ (Financial Technology), refers to the intersection between finance and technology and how…


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This is a question that comes a lot and one that I was recently asked when presenting to the Japanese regulator in Tokyo.

The Japanese were really intrigued to work out and understand how a small country like Ireland, is so well positioned to have so many indigenous RegTech companies and indeed FinTechs, given that Japan has a population of over 125 million people, compared with a population in Ireland of just under 5 million.

There are a number of unique factors and circumstances that all align together to rank Ireland as a global leader in this space and I…

GECKO Governance

Providing much needed Transparency, Compliance & Accountability To The Financial Services Industry

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