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Ireland Pushes Forward with Accountability

Ireland Pushes Forward with Accountability

by Starling Insights

Starling Insights Editorial Board

Mar 14, 2023

Observations

Ireland Central Bank of Ireland Personal Liability & Accountability The Era of Accountability Regulatory Trends Consumer Protection

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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