On 28 July 2021, the General Scheme of the Central Bank (Individual Accountability Framework) Bill was published. As expected, it reflects proposals set out in the Central Bank of Ireland’s (CBI) 2018 report on Behaviour and Culture. It also captures developments in the CBI’s thinking and the experience of regulators who have implemented accountability regimes, most notably the UK’s Senior Managers and Certification Regime (SMCR).

 

Please see an informative update from PWC here.