The Central Bank (Individual Accountability Framework) Act 2023 was enacted on 9 March 2023.

On 13 March 2023, the Central Bank published its consultation paper (CP153) together with draft regulations and extensive draft guidance on the individual accountability framework/SEAR.

We believe firms now have a sufficient basis for making real progress in their implementation of their IAF/SEAR projects. In this context, we examine the conduct standards, fitness and probity reforms and SEAR pillars in detail based on new information available in CP153. We also recommend practical actions which firms can take now regarding each pillar.

Click the image below to download the report.