Ireland’s Individual Accountability Framework (“IAF”) – What You Need to Know

Dechert LLP

Introduction -

The Central Bank (Individual Accountability Framework) Act 2023 (the “Act”) was signed into law on 9 March 2023. The Act amends several existing pieces of legislation2 and is amongst the most significant pieces of legislation impacting the powers of the Central Bank of Ireland (“Central Bank”) in recent years. The key objectives of the Act are to improve the management of risk in regulated financial service providers and outcomes for consumers.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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