The Central Bank of Ireland (Central Bank) issued its annual Securities Markets Risk Outlook Report 2023 (Report). The Report covers the external risk environment; sustainable investing; market integrity; management of market conduct risks; delegation and outsourcing; cybersecurity; data quality; and digital innovation. This article reviews the key takeaways from the Report, with commentary from Carol Widger, partner in Dechert’s Dublin office. The Report does not break any new ground, according to Widger. “In my view, many of the areas covered have been already [addressed] by the regulator through industry speeches and communications, such as ‘Dear CEO’ letters,” she observed. The themes addressed in the Report are a continuation of what the Central Bank has been saying. See “Central Bank of Ireland Requires UCITS Managers to Review Liquidity Risk Management Frameworks” (Jun. 17, 2021).