Following its consultation process earlier in the year, the Central Bank of Ireland published a Feedback Statement and issued Regulations and Guidance to firms on the Individual Accountability Framework last Thursday, 16 November 2023.

The Guidance provides clarity regarding the Central Bank of Ireland’s expectations for the implementation of three aspects of the framework: the Senior Executive Accountability Framework, the Conduct Standards and certain aspects of the enhancements to the Fitness and Probity regime.  In this Insight we have highlighted a number of the key changes that the Central Bank of Ireland has implemented to the final draft Regulations and Guidance from the version published with the Consultation Paper thus providing a comprehensive snapshot of what the updated requirements mean for our clients.

For any queries on this Insight or any aspect of the Individual Accountability Framework, please do not hesitate to contact to any member of our dedicated team or your usual Matheson contact.