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Central Bank to delay parts of new accountability rules after industry backlash

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Gabriel Makhlouf acknowledges industry concerns over parts of individual accountability rules and signals changes

The Central Bank of Ireland will delay parts of a landmark new rulebook designed to hold senior executives accountable, after major industry groups claimed elements of the plan were unworkable and posed risks to Ireland’s competitiveness.

Gabriel Makhlouf, the governor of the Central Bank , on Wednesday announced that the regulator would defer by 12 months the application of the individual accountability framework to certain executives in banks and other financial services firms.

 

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