The Bill introduces the individual accountability framework, which comprises: the senior executive accountability regime, SEAR; conduct standards for individuals performing controlled functions; a duty of responsibility for those performing senior roles; and standards for business for regulated firms. It amends the Central Bank (Supervision and Enforcement) Act 2013 to provide the Central Bank with a new regulation-making power.
This process will provide a legally robust and clear mechanism to facilitate this limited disclosure to the Central Bank should a person voluntarily wish to disclose legally privileged material for the performance of the Central Bank's functions under financial services legislation, and should the Central Bank agree to such disclosure.
Key terms by TF-IDF across 4,053 words from 11 speakers. The summary quotes the highest-scoring sentences verbatim — nothing is paraphrased.
Tellers: Tá, Senators Paul Daly and Joe O'Reilly; Níl, Senators Michael McDowell and Gerard P. Craughwell.
Party shown is the one each member held on 2023-02-08, frozen by a dated join — not their party today. The Oireachtas API publishes no date of birth and returns an empty gender field for every member in this period, so no age or gender breakdown is shown.