Expert view: All you need to know about the Central Bank’s new rules for top executives

Senior leaders at KPMG explained how firms can ensure they are compliant with the Central Bank’s individual accountability rules – and why concerns about the competitiveness of financial services in Ireland are real

Central Bank: regulator is in the process of imposing new laws designed to improve individual accountability in the financial services sector. Picture: Bloomberg

From July 1, 2024, top executives at dozens of companies – banks, funds, insurance companies and others – will have a new set of rules to follow.

The senior executive accountability regime (Sear) has been hanging around for six years now and is based on the idea that senior officials at major financial services firms should follow a tighter framework after a series of scandals in the sector.

Sear is one of four elements of a broader ...