Regulatory Alerts2024-04-16
Guidance on the Individual Accountability Framework
The Central Bank of Ireland issued this April 2024 guidance to implement the Individual Accountability Framework established by the Central Bank (Individual Accountability Framework) Act 2023. The document details requirements for the Senior Executive Accountability Regime, including the Duty of Responsibility, Statements of Responsibilities, and Management Responsibilities Maps for in-scope firms. It further outlines the Common and Additional Conduct Standards, as well as strengthened Fitness and Probity certification obligations for individuals performing Controlled Functions.
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