Financial sector executives could be suspended for 30 months while being investigated
The new rule increasing the maximum suspension from six months is part of legislation to introduce tougher penalties for individual executives in the sector
Senior executives in banks, insurance companies and investment firms who are being investigated by the Central Bank could face suspensions of up to two and a half years while the probes are being carried out.
This represents a substantial increase on the current maximum suspension of six months for an individual who is under investigation.
The Central Bank will still be able to suspend executives for only six months initially but will then be able ...