Irish Watchdog Warns Financial Firms Over Inept Execs

Law360, London (April 8, 2019, 4:24 PM BST) -- Ireland's central bank warned financial services companies Monday to monitor employees to ensure they are capable of doing their job, amid concerns that incompetent and tarnished senior executives are jeopardizing faith in the system.

Banks and other finance companies must be vigilant to ensure that employees are both competent and behaving ethically, not only when they are hired but throughout their career, the Central Bank of Ireland said in a letter to managers.

The central bank — an industry watchdog — said companies were largely good at self-policing their operations. But many seem unaware that they are also in charge of...

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