Regulation
Central Bank starts consultation on new accountability rules for financial services sector
Under the rules, specific firms will have to set out clearly and fully where responsibility and decision-making lie within the firm’s senior management
The Central Bank of Ireland (CBI) has launched a three-month consultation period on key aspects of the implementation of the Individual Accountability Framework (IAF), including the publication of draft regulations and guidance.
The IAF makes it easier for the Regulator to take action against individuals in the financial sector for misconduct.
The announcement of the consultation period follows the enactment of the Central Bank (Individual Accountability Framework) Bill 2022 last week.
The draft regulations and ...
