Ireland: Corporate Governance Code for Credit Institutions and Insurance Firms

The Central Bank has published its Corporate Governance Code for Credit Institutions and Insurance Firms. The Code sets out, amongst other things, a minimum board size; requirements on the role and number of non-executive directors; criteria for director independence and consideration of conflicts of interest; limits on the number of directorships which directors may hold in financial and non-financial companies; separation of the roles of Chairman and CEO; minimum requirements for board committees including audit and risk committees; and a requirement for an annual confirmation of compliance to be submitted to the Central Bank.

For downloading the code click here.