The Central Bank (Individual Accountability Framework) Bill 2022 (the “IAF Bill“) was published on 28 July 2022 by the Department of Finance, following the publication of the General Scheme of the IAF Bill (“General Scheme”) in July 2021. Once enacted, which might be as soon as Q4 2022, the IAF Bill will introduce significant changes to the regulation and supervision of regulated financial service providers (“RSFP”) and persons performing controlled functions (“CF”) and pre-approval controlled functions (“PCF“), through, inter alia, the introduction of the Senior Executive Accountability Regime (“SEAR”), business and conduct standards, and an enhanced fitness and probity (“F&P“) regime.

In our latest advisory, the Walkers' IAF team comprising members of our Regulatory, Funds and Employments groups, provides an overview of the Bill including timing and key actions for in-scope regulated financial services providers and holding companies. 

Click to view advisory