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ARTICLE · 05 SEPTEMBER 2018

The CBI's Plans For Individual Accountability

Dillon Eustace
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The Central Bank of Ireland (the "CBI") wants more powers to make senior management in regulated entities accountable for their actions.

IrelandFinance and Banking
Dillon Eustace
Dillon Eustace
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The Central Bank of Ireland (the "CBI") wants more powers to make senior management in regulated entities accountable for their actions. It has set out these requests in different fora, including in its response to a Law Reform Commission paper which it published late last year (see previous article on the topic here: Link) and in its recent report to the Minister of Finance on behaviour and culture in Irish retail banks (July 2018). This week (27 August) the CBI's Director of Enforcement and Anti-Money Laundering has again set out its proposals for reform in the area.

What are the CBI's proposals?

The CBI wants an Individual Accountability Framework to be introduced which consists of the following:

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