Preparing For Individual Accountability Series - Part 1 - Conduct Standards

INTRODUCTION

In the run-up to the Central Bank's expected Summer 2022 consultation on its proposed individual accountability framework, this is the first of a new series of client briefings on what steps firms should be taking now to prepare for the Central Bank's individual accountability framework which is expected to come into effect in early 2023.

Our previous briefing on the heads of bill on individual accountability published in July 2021 is available here.

In this briefing, we examine conduct standards – one of the four pillars of the individual accountability framework - and we outline the actions that can be taken by firms and individuals to prepare for the enforceability of those conduct standards.