The Individual Accountability Framework, including the Senior Executive Accountability Regime, is one of the most impactful regulatory developments of recent years. All firms regulated by the Central Bank of Ireland will be impacted and will have varying implementation requirements through 2023 and 2024.
Contact usThe introduction of the Senior Executive Accountability Regime and broader Individual Accountability Framework will be one of the most impactful regulatory changes of recent years. The recent publication of the General Scheme for the legislation gives a good indication of what will be expected of regulated firms and individuals within them.
Financial RegulationAt the end of July, the long-awaited General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021 was published. It provides for an Individual Accountability Framework designed to deliver heightened accountability in the financial system and follows the Central Bank of Ireland's focus on consumer issues in a number of sectors.
Financial RegulationThe Department of Finance announced today details on the long-awaited Individual Accountability Framework (the IAF) including the Senior Executive Accountability Regime (SEAR).
Financial RegulationThe past decade has seen a marked and continuing shift in global focus towards greater accountability and responsibility for decision making in the financial sector - no doubt influenced by the fallout of financial crisis.
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