Proposed Changes To Corporate Governance Code

Introduction

The Corporate Governance Code for Credit Institutions and Insurance Undertakings was originally published by the Central Bank of Ireland in November 2010 and became effective on January 1 2011. It imposed minimum core governance standards and requirements on all credit institutions and insurance undertakings, including reinsurers, which are licensed or authorised by the Central Bank.

On August 2 2012, the Central Bank published a Consultation on the Review of the Corporate Governance Code for Credit Institutions and Insurance Undertakings. The purpose of the consultation paper is to obtain feedback from institutions and industry bodies on the operation of the code to date, and to identify any necessary amendments to strengthen and improve it.