Almost 40% of senior compliance professionals in Ireland’s financial services sector are struggling with the volume of new regulatory requirements, new research reveals.
The report from the Compliance Institute reveals growing strain on the industry, with many citing EU and Central bank rules as key areas of concern.
The top challenge, cited by 42% of respondents, was the sheer volume of regulation, followed by pressures related to EU regulations, the Digital Operational Resilience Act, and resource constraints.
The report reveals that 64% of organisations feel prepared for future compliance demands.
Just 2% said they’re unprepared, while one-third are somewhere in the middle.
“Regulation is increasing in pace and complexity, stretching teams and systems to their limits,” said Michael Kavanagh, CEO of the Compliance Institute.
“While it’s encouraging that nearly two-thirds of organisations feel prepared to meet these demands, the reality is that compliance teams are under sustained pressure,” he added.
According to the report, many teams are struggling to manage regulatory obligations without the support of adequate technology.
In terms of the adoption of new technologies such as AI and blockchain, respondents recognise their potential but said they need more guidance, better training and stronger regulatory clarity.
Compliance challenges also vary by sector. Credit unions and insurers report added pressure due to sector-specific requirements, while international firms face a balancing act across divergent regulatory frameworks, especially in areas like ESG, where regional expectations often conflict.
“Compliance now more than ever is about shaping culture, embedding trust, and enabling sustainable growth,” said Mr Kavanagh.
“The most successful organisations are those where compliance is integrated early in the decision-making process and where leadership sets the tone from the top,” he added.
