Briefing: Individual Accountability - SEAR now applicable to NEDs and INEDs

This Factsheet is in collaboration with McCann FitzGerald

This Director Factsheet highlights the new rules making non-executive directors (NED) and independent non-executive directors (INEDs) in financial firms personally accountable for key governance and oversight duties under Ireland’s SEAR framework. As of 1 July 2025, the Central Bank of Ireland’s SEAR now applies to non-executive directors (NEDs), independent non-executive directors (INEDs), and chairpersons of regulated financial firms. These roles must now carry defined responsibilities, maintain Statements of Responsibility, and ensure accountability in governance, risk, and board culture—extending SEAR beyond executives for the first time.