In July, the Central Bank of Ireland (CBI) published the final report for the review into its Fitness and Probity (F&P) Regime, conducted by Andrea Enria, past-Chair of the Supervisory Board at the European Central Bank. Enria's report provided a range of recommendations for the CBI to make its F&P process more fair, efficient, and proportionate.
The review was launched earlier this year after an appeals body issued a highly critical judgment regarding the CBI’s rejection of a finance executive for a board position on an Irish fund. The Irish Financial Appeals Tribunal, an independent body that hears appeals against CBI decisions, said that the central bank's decision-making process was “flawed” and that the executive who had been rejected was “denied fair procedures at every stage of the process.”
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