On December 23 2013 the Central Bank published a revised
Corporate Governance Code for Credit Institutions and Insurance
Undertakings. The revised code comes into effect on January 1 2015
and will apply to all credit institutions and insurance
undertakings (including reinsurers, but excluding captives)
licenced or authorised by the Central Bank. It incorporates
feedback received from key stakeholders following the Central
Bank's recent public consultation – CP 69. The code
imposes minimum statutory requirements on how credit institutions
and (re)insurance undertakings licensed or authorised by the
Central Bank should organise the governance of their
institutions.
The code imposes some additional requirements on high-impact
institutions, so as to ensure that appropriate and robust corporate
governance frameworks are in place and implemented to reflect the
risk and nature of those institutions.
