Ignorance used as an 'accountability firewall' : vimarsana.c

Ignorance used as an 'accountability firewall'
Updated / Wednesday, 10 Mar 2021
10:25
The proposed Senior Executive Accountability Regime would remove ignorance as an excuse, and hold individuals accountable for their actions
The Central Bank of Ireland has said it needs more extensive powers to pursue "individual accountability" as the fallout over a 2014 bond transaction by Davy continues.
Derville Rowland, the Director General of Financial Conduct at the Central Bank, told the Oireachtas Finance Committee yesterday that Ireland's regulatory framework "requires further strengthening with regard to individual accountability".
The regulator has powers under the Administrative Sanctions Procedure to sanction individuals but it can only do that if the individuals actually participated in a breach by the firm.

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