Guiding principles for companies preparing for the IAF are clearer now
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A&L Goodbody’s Dario Dagostino and Mark Devane examine key changes contained in the Central Bank of Ireland’s latest guidance on the Individual Accountability Framework and what approaches, in their experience in advising clients on their implementation plans, are working best as FS firms prepare for a new chapter in Irish financial services regulation.
The Individual Accountability Framework (IAF) was first proposed by the Central Bank in its report into the ‘Behaviour and Culture of the Irish Retail Banks’ in 2018.

Since then, our experience has been that clients have been generally welcoming of the broad objectives of the IAF, and the means by which those objectives are achieved by way of Conduct Standards, a ‘Duty of Responsibility’, Statements of Responsibility and Management Resp....

 

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November 2024 Issue of Finance Dublin

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Dario Dagostino and Mark Devane are Partners in A&L Goodbody LLP’s Regulatory Investigations Group.
This article appeared in the November 2023 edition.