Fitness rules may lead to legal challenges

Banks and other regulated financial firms could end up being liable for legal costs and payouts to employees.

12th February, 2012
Fitness rules may lead to legal challenges
Richie Boucher, Bank of Ireland group chief executive. Photo: Tony O'Shea

Banks and other regulated financial firms could end up being liable for legal costs and payouts to employees for implementing the Central Bank's new fitness and probity standards for senior staff, a leading law firm has warned.

Business law firm Mason Hayes & Curran said that the new regime, which came into effect in December, would lead to legal challenges where the failure of an employee to meet the Central Bank's standards results in them...

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