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ARTICLE · 03 APRIL 2023

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On 9 March 2023, the Central Bank (Individual Accountability Framework) Act 2023 ( "IAF Act") was signed into law by the President of Ireland, Michael D. Higgins.

IrelandFinance and Banking
Matheson LLP
Matheson LLP
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1. Central Bank of Ireland publishes Consultation Paper, draft Regulations and draft Guidance in relation to the Central Bank (Individual Accountability Framework) Act 2023

On 9 March 2023, the Central Bank (Individual Accountability Framework) Act 2023 ( "IAF Act") was signed into law by the President of Ireland, Michael D. Higgins.

On 13 March 2023, the Central Bank of Ireland ("Central Bank") published a consultation paper entitled "Enhanced governance, performance and accountability in financial services - Regulation and Guidance under the Central Bank (Individual Accountability Framework) Act 2023" ("CP153").

CP153 annexes draft regulations and supporting draft guidance on the operation of the Individual Accountability Framework ("IAF") as contained in the IAF Act. The draft regulations and guidance aim to provide clarity on the Central Bank's expectations for the implementation of three aspects of the IAF (1) the Senior Executive

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