Enforcement approach will be core
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McCann FitzGeralds’s Josh Hogan says the IAF has the potential to enhance Ireland’s reputation as a financial services centre but avoiding the serious downside risks is dependent on the Central Bank’s approach to enforcing the rules.
It is good to see the Central Bank acknowledge the concerns regarding the inclusion of non-executive directors within SEAR. Non-executives play an essential role in the good governance of firms. The deferral of the application of SEAR to non-executive directors until 1 July 2025 will give them some breathing space to become comfortable with the new regulatory expectations under SEAR. I don’t think there was any fear that SEAR, by itself, would lead to a ‘great resignation’ o....

 

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Josh Hogan is a partner at McCann FitzGerald.
This article appeared in the November 2023 edition.