John Walsh: Will the recent change of tone in financial services regulation lead to growth for the sector?

The real test of the relationship between the industry and the Central Bank will be the introduction of the bank’s senior executive accountability regime (SEAR) later this year

Central Bank HQ in North Wall Quay: there was a change of personnel across the executive ranks of the Central Bank, and with it a new approach to regulation. Picture: Fergal Phillips

Anecdotal evidence suggests that the regulatory regime for the financial services sector is finding a workable compromise following a few years of alleged over-reach.

It was inevitable that in the years following the 2008 banking crisis, there would be a fundamental shift in the regulatory environment. After all, much of the blame for the implosion of the financial sector lay with the ‘light touch’ regulatory regime that prevailed in the decade leading up to the ...