On 28 July 2022, the Department of Finance published the Central Bank (Individual Accountability Framework) Bill 2022 (the Bill). We look at some key features of the Bill as against the heads of bill, which was published on 27 July 2021.

The Central Bank’s 2018 Report on Behaviour and Culture of the Irish Retail Banks originally outlined the four pillars of the individual accountability framework (IAF). We look at some notable features of the Bill examined under each of the four pillars of the IAF including:

1. conduct standards
2. fitness and probity reforms
3. reforms to simplify regulatory enforcement against individuals
4. the senior executive accountability regime (SEAR).

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