Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 30 NOVEMBER 2023

'Reasonable Steps' And Other IAF Topics Populating The Boardroom Agenda

Walkers
Walkers
Contributor
Walkers

Walkers

Firm Details Global Managing Partner: Ingrid Pierce Office Managing Partner: Daniel Wood Number of...

View firm profile
Explore more from Walkers

Walkers' Niall Esler analyses the key topics that have arisen for boards developing their companies' frameworks to meet the requirements of the Individual Accountability Framework...

IrelandFinance and Banking
Niall Esler
Niall Esler
Author LinkedIn connections

This article first appeared in the November 2023 edition of Finance Dublin.

Walkers' Niall Esler analyses the key topics that have arisen for boards developing their companies' frameworks to meet the requirements of the Individual Accountability Framework and how some of these have been impacted by the Central Bank's November IAF Feedback Statement.

With the Conduct Standards due to come into force on 29 December of this year, the boards of in scope regulated financial service providers (firms) have dedicated significant time in recent meetings to overseeing the implementation of the Individual Accountability Framework (the IAF) requirements.

A number of key topics have arisen for firms in developing and finalising the appropriate frameworks, some of which are impacted by the Feedback Statement issued by the Central Bank of Ireland (the Central Bank) on 16 November 2023 and its revised draft Central Bank Regulations (on the Senior Executive

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

CBI Consults On Third-Party Risk

The Central Bank of Ireland has published a consultation paper proposing new guidance on managing third-party risks that extends beyond traditional outsourcing to encompass partnerships, joint ventures, and fintech collaborations. The proposed framework aligns with recent European Banking Authority guidelines and DORA, introducing a lifecycle-based approach with enhanced contractual provisions and broader scope than the 2021 guidance it will replace. Financial entities now face the challenge of identifying
IrelandFinance and Banking
William Fry LLP
William Fry LLP
Article

Final EBA Guidelines On The Sound Management Of Third-party Risk: What Financial Entities Need To Know

The European Banking Authority has published final Guidelines on the sound management of third-party risk regarding non-ICT services, replacing the 2019 Outsourcing Guidelines and introducing a broader regulatory framework. Financial entities will need to navigate expanded scope requirements, enhanced governance standards, and alignment with DORA while managing compliance timelines and contractual obligations.
IrelandFinance and Banking
Arthur Cox
Arthur Cox
Article

Alternative Investment Funds

Ireland offers a sophisticated regulatory framework for Alternative Investment Funds, with structures ranging from ICAVs and Investment Limited Partnerships to Unit Trusts and Common Contractual Funds. The jurisdiction provides flexible options for both retail and institutional investors, with distinct regulatory pathways for RIAIFs, QIAIFs, and ELTIFs, each designed to accommodate different investment strategies and liquidity profiles while maintaining robust investor protections.
IrelandFinance and Banking
K&L Gates
K&L Gates
Article

SFDR 2.0 Trialogue Negotiations: Key Areas Of Focus For Fund Managers

The European Commission's proposed overhaul of the SFDR regime is entering crucial trialogue negotiations, with the Irish Presidency aiming to reach agreement by year-end. While the Council and Parliament have aligned on key issues like professional investor opt-outs, significant divergences remain on exclusion criteria for Transition funds, PAI reporting requirements, and engagement strategy disclosures that will shape the future of sustainable finance regulation.
European UnionFinance and Banking
Dillon Eustace
Dillon Eustace
Article

The Future Of Islamic Finance: Insights From IFN UK Forum 2026

Islamic finance is experiencing rapid global expansion, with assets approaching US$6tn and record sukuk issuance attracting non-traditional investors. The convergence of Shariah-compliant and sustainable investing is creating new opportunities, while AAOIFI Standard No. 62 and tokenisation developments are reshaping how Islamic finance structures are designed and implemented across international markets.
United KingdomFinance and Banking
Walkers
Walkers