How the Central Bank will use its new powers to impose sanctions on individuals a source of major concern for the market
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With final guidance on the IAF released by the Central Bank Maples’ Stephen Carty examines the final shape of its core elements and industry concerns with how the new rules will be enforced.
The Individual Accountability Framework (IAF), is a set of reforms being introduced in Ireland to enhance the accountability and responsibility of senior individuals and firms in the financial sector.

IAF aims to improve the culture, governance and behaviour of regulated firms and to facilitate effective supervision and enforcement by the Central Bank of Ireland (Central Bank).

The view is that individual accountability drives personal responsibility and that more r....

 

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August 2024 Issue of Finance Dublin

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Stephen Carty is a Partner, Financial Services Regulatory at Maples Group.
This article appeared in the November 2023 edition.