Yesterday, the Central Bank of Ireland (CBI) introduced a three-month consultation on key aspects of its Individual Accountability Framework (IAF), including the publication of draft regulations and guidance. This comes following the enactment of the Central Bank (Individual Accountability Framework) Bill 2022 earlier this month.
The consultation clarifies expectations regarding the Senior Executive Accountability Regime (SEAR), which requires firms to set out where decision-making and responsibility sit within senior management.
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