herald

Saturday 18 August 2018

New posts await seal of approval

THE Central Bank now has powers to override the appointment of a chief executive to the country's banks or major insurance companies.

The appointment of 42 senior positions at financial services firms must now be approved by the Central Bank governor Patrick Honohan before the potential employee can take the job.

These guidelines were contained in an updated version of the bank's fitness and probity regime for financial institutions.

"Employers are responsible for ensuring that staff meet the standards, both on entry to the financial services industry and throughout their careers," the Central Bank said.

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