Minister for Finance Paschal Donohoe has upped the onus on senior finance executives to ensure their business areas are well run, under long-awaited draft laws to make it easier for regulators to hold individuals to account for failings under their watch.
The new wording may cause concern for those who will fall under the scope of the incoming rules, as it may feel like an impossible standard to achieve, said Kian Caulwell, a partner and head of financial services consulting with Mazars Ireland. “There is an increased focus on ensuring firms are fully transparent in how they communicate with customers. Gone is reference to the [previously proposed] requirement to share ‘material’ information and replaced with ‘relevant’ information,” Mr Caulwell said.
About time ? Won’t hold my breath however!
Paschald a bit late don't you think 🤔 any update on the,'Blindsided' debacle,how the story was conveniently allowed 2 grow legs when u knew of AIB plans,have SeanFlemingTD, RobertTroyTD, MichealMartinTD & indeed fiannafailparty received apologies 4 being made look foolish🤔
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