Tutorial Overview

The Conduct Standards are a key aspect of the Central Bank’s Individual Accountability Framework, or IAF. They set the standards of behaviour that the Central Bank expects from regulated financial firms and those working within them.

This tutorial provides a high-level overview of the Conduct Standards and the obligations they place on regulated financial firms and individuals.

• Prerequisite Knowledge: None

• Tutorial Level: Introductory

• Tutorial Duration: 35 minutes

Tuturial overview

IFS Skillnet is delighted to partner with Intuition on this eLearning module. The module is particularly relevant to those with no knowledge or experience of the IAF, though there is sufficient detail to make it useful to those with some familiarity as well.

The Individual Accountability Framework (IAF), which was enacted earlier this year, is one of the most significant regulatory developments in Ireland in recent times. Its overarching objective is to improve governance, performance and accountability in relation to regulated financial service providers and their management/employees. By establishing a clear framework as to who is responsible for what within these firms, the reforms will encourage greater individual accountability and enhance the Central Bank’s ability to hold individuals to account when their conduct or performance falls below regulatory expectations.

This tutorial describes the IAF in detail, with particular focus on the key areas covered by the new rules – the Senior Executive Accountability Regime (SEAR), Conduct Standards, enhancements to the existing Fitness & Probity (F&P) Regime and modifications to the Administrative Sanctions Procedure (ASP).