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ARTICLE · 09 MARCH 2023

Central Bank (Individual Accountability Framework) Bill 2022 Set For Enactment

Dillon Eustace
Dillon Eustace
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For further information on any of the issues discussed in this publication please contact the related contact(s) on this page.

IrelandFinance and Banking
Keith Waine
Keith Waine
Colman O'Loghlen
Colman O'Loghlen
Benedicte O'Connor
Benedicte O'Connor
John O'Riordan
John O'Riordan
Peter Bredin
Peter Bredin
Rachel Turner
Rachel Turner
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For further information on any of the issues discussed in this publication please contact the related contact(s) on this page.

As readers will be aware, the Central Bank (Individual Accountability Framework) Bill 2022 (Bill) proposes to:

  • introduce a new "Senior Executive Accountability Regime" for those discharging senior executive functions in the financial services industry;
  • enhance the existing fitness and probity regime operated by the Central Bank of Ireland (Central Bank);
  • extend and clarify the powers of the Central Bank under its administrative sanctions procedure; and
  • introduce new conduct standards for all financial services service providers.

The Bill passed the Seanad on 22 February 2023 at which point it was remitted to the Dáil, where two related Government amendments made at Seanad Committee Stage were debated on 1 March 2023.

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