Question

What is the Senior Executive Accountability Regime or SEAR?

Answer

The Senior Executive Accountability Regime or SEAR is one of the elements of the Central Bank of Ireland’s (CBI) proposals for an enhanced Individual Accountability Framework. This framework aims to enhance transparency and accountability in the financial sector by making it easier to identify individuals responsible for specific functions, decisions and failings. It is to be accompanied by other measures such as enhancements to fitness and probity, administrative sanctions and conduct standards.

The framework is to be put on a legislative footing in the Central Bank (Amendment) Bill 2019.