Banking
Makhlouf: Central Bank still at odds with some financial firms over accountability rules
Governor Gabriel Makhlouf says firms see a ‘conflict’ in the new individual accountability framework, which the regulator does not believe is the case
The Central Bank of Ireland (CBI) is still at odds with some financial institutions over elements of forthcoming rules aimed at holding individual executives accountable, its boss has admitted.
The regulator last week announced that it was deferring by 12 months the application of its individual accountability framework (IAF) to non-executive directors, following a consultation period in which major firms flagged significant concerns with elements of the rulebook.
The Central Bank also reduced the number ...