Central Bank (Individual Accountability Framework) Bill 2022

Plain-English summary AI · claude-haiku-4-5-20251001

Extends Central Bank's ability to sanction individuals in controlled functions and holding companies; adds High Court confirmation process for certain decisions.
Introduces business and conduct standards for financial service providers and individuals; requires personal responsibility duty; strengthens investigator independence.
Allows High Court to extend suspension periods longer; adds appeal rights to Financial Services Tribunal; clarifies compliance responsibility allocation rules.