Regulatory Alerts2016-12-20
Corporate Governance Requirements for Credit Institutions FAQs
The Central Bank of Ireland issued this guidance to clarify the implementation of the 2015 Corporate Governance Requirements for credit institutions. It establishes strict parameters for board composition, including independent non-executive director thresholds, concurrent directorship limits, and mandatory time commitments, while requiring material governance deviations to be reported within five business days. The document further defines the regulatory scope to encompass Irish-authorized entities and their foreign branches, clarifies how these rules interact with CRD IV and existing license conditions, and outlines compliance statement procedures and board committee operations.
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