Promoting a culture of good governance and greater individual accountability across the regulated financial services sector are core objectives of the Central Bank’s proposed individual accountability framework (IAF) including the senior executive accountability regime (SEAR).
William Fry’s experienced multi-disciplinary IAF/SEAR team is helping clients to prepare for and implement IAF and SEAR. Our team includes specialists in financial regulation, litigation and regulatory enforcement, employment, banking and finance, asset management and investment funds, (re)insurance and fintech.
We have vast experience in guiding regulated firms and senior executives in regulated firms through the most challenging regulatory implementation projects. We work with all stakeholders, including the Central Bank, through all stages of our clients’ regulatory lifecycle. We also have extensive experience of representing regulated firms and individuals in Central Bank investigations, inquiries and regulatory enforcement action, including the administrative sanctions procedure (ASP).
Training on the four pillars of the IAF including conduct standards for individuals and regulated firms, fitness and probity reforms, SEAR and individual enforcement reforms.
Preparing statements of responsibility and responsibility maps by firms which fall within the scope of SEAR.
Preparing for the fitness and probity certification process.
Reviewing employment agreements and HR policies and procedures to take account of IAF and SEAR.
Advising senior executives and individuals in regulated firms on conduct standards for individuals, the duty of responsibility and SEAR.