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Webinar: Securities Market Conduct Risk - an update with focus on Market Abuse


The Central Bank, in communications to the industry, have set out a number of findings from supervisory work in the area of wholesale market conduct. In this webinar, the IOB is addressing the key findings related to:

  • Inadequate market conduct risk frameworks

  • Inadequate governance of market conduct risk

  • Failure to identify the risk of market abuse Listen to Sonja MacCumhaill and Michael Hennigan in the below webinar, as they address these topics with IOB CEO, Mary O’Dea, and provide insights on how to deal with the Central Bank concerns.

Featured speakers:

Sonja MacCumhaill

Senior Business Analyst, Davy

Sonja MacCumhaill

Sonja MacCumhaill is a financial services professional, with 16 years’ experience working in the financial services industry in Ireland.

As Manager of the Traded Markets Infrastructure team in the Irish Stock Exchange (now Euronext Dublin), Sonja managed the relationship with the ISE’s strategic partners for the trading, clearing and settlement systems, and oversaw the continual development of the infrastructure, including the delivery of regulatory compliant solutions for MiFID II, CSDR and SSR. Prior to that she held various positions within the Regulation team, monitoring the market for non-compliance and potential market abuse.

Sonja was also chair of the Irish Stock Exchange’s cross-departmental risk analysis group, responsible for the identification, monitoring and reporting of risks across the ISE. As chair, she managed the reporting of risks to Executive Management, implemented additional reporting to the Board, and organised risk training sessions for the group.


Michael Hennigan

Senior Advisor, Central Bank of Ireland

Michael Hennigan

Michael Hennigan is currently a Senior Advisor in the Markets Policy Division of the Central Bank of Ireland. Michael is a professional lawyer by training and practised at the Bar in Dublin before joining a leading Irish commercial law firm for whom he worked in financial services law and practice in both Dublin and London. Michael has nearly 20 years’ experience in the Central Bank of Ireland in various positions, including in Legal, Enforcement and now Policy following his recent return from having spent three years with ESMA in Paris.