The objective of these proposals is to act as a driver for positive behaviours and the recognition of responsibilities of individuals. Many regulated firms and their leaders behave ethically and honestly, and seek to drive effective cultures. However, where that is not the case, these reforms will constrain the ability of senior executives to escape accountability for wrongdoing.
The reforms will require Oireachtas consideration and approval, and we would welcome any questions you may have on our recommendations. The Macro Financial Outlook During economic upswings, it is vital to build up financial and fiscal buffers: easing policies during downturns require corresponding restraint during expansion phases.