Ireland

The Central Bank (Individual Accountability Framework) Act 2023, referred to locally as Acht na Banc Ceannais (An Creat Cuntatachta Aonair), 2023, is an entirely operational primary law passed by the Irish Parliament and is enforced by the Central Bank of Ireland (CBI) [www.centralbank.ie]. This law is aimed at ensuring fundamental changes in governance and culture within the financial services industry through implementation of the Senior Executive Accountability Regime (SEAR), conduct standards and strengthened annual Fitness & Probity (F&P) certifications. Importantly, this piece of legislation provides the CBI with direct enforcement capability to circumvent corporate organizations and impose personal penalties on senior management functions for failing to abide by regulation. After phased implementation, which started on 19 April 2023, the laws are now fully in operation and were updated as late as 10 February 2026 to include protection of digital asset and crypto-asset service providers.