Our November 2022 report is based on 160 survey responses received. July and October 2022 have witnessed further developments in the legislative journey of the Central Bank (Individual Accountability Framework) Bill.
Following the publication of our first survey report in March 2022, further milestones were reached during Quarter 3 and 4, 2022, which has seen the proposed regime develop momentum:
The Bill follows a similar structure and focuses as the General Scheme, such that the Individual Accountability Framework (IAF) will consist of four key pillars, specifically:
COP, short for Conference of the Parties, refers to a series of official gatherings where governments evaluate global progress in implementing the Paris Agreement and the Convention, with the aim of limiting global warming to 1.5°C based on the most recent scientific findings. During COP meetings, leaders from around the world come together to assess advancements and negotiate effective strategies...
The Central Bank of Ireland (CBI) released its Flood Protection Gap Report on 14 October 2024, shedding light on the extent of Ireland's flood insurance coverage gaps. The report examines both the current and future risks posed by inadequate flood protection, which affects some homes and businesses across the country.
Under EU Regulation 2023/1114, Markets in Crypto Assets Regulation (MiCAR) issuers of asset-reference tokens (ARTs) and electronic money tokens (EMTs) must create a redemption plan to ensure orderly token redemption if a competent authority determines the issuer may fail to meet payment obligations.
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The Central Bank (Individual Accountability Framework) Act 2023 (the Act) will ensure that conduct risk will remain a key risk that all regulated financial services firms (firms) must be able to demonstrate it is proactively managing and mitigating. In all likelihood, one of the key impacts of the Act will be the elevation of conduct risk further up the Board’s risk agenda prioritisation in 2024 and...
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