Insights Blog

The Central Bank of Ireland (CBI) has just launched a consultation on proposed changes to its ASP (here), which follows its recent consultation on the Individual Accountability Framework which concluded on 13 June 2023 (here).

The ASP Consultation will run for twelve weeks until 14 September 2023 and seeks to canvass views on revisions to the ASP on foot of changes introduced by the Central Bank (Individual Accountability Framework) Act 2023, as well as other revised procedures in the ASP. As part of this consultation, the CBI has prepared draft composite guidelines to consolidate the existing ASP Guidelines (here).

The overall structure of the ASP remains the same and the procedural changes proposed are to reflect the expanded scope of persons who may fall within its remit as well as the CBI’s experience of implementing the ASP over the past number of years.

The consultation will remain open for 12 weeks from 22 June to 14 September 2023, following which the Central Bank will review all feedback and prepare an associated feedback statement to be published by the Central Bank.

For all insights from our experienced multi-disciplinary Individual Accountability and SEAR Group, go to www.arthurcox.com/iaf.