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The Central Bank of Ireland called Tuesday for senior managers to be held personally liable for anti-money laundering compliance failures at their financial institutions. In a 20-page response to the Law Reform Commission’s January 2016 report on regulatory enforcement in Ireland, the CBI “strongly” recommended reforms modeled on the United Kingdom’s Senior Managers and Certification Regime, or SMCR, that would require Irish lenders to assign ultimate accountability for AML compliance to a single officer. Requiring firms to map their supervisory and governance arrangements and identify the specific duties of each senior manager would “decrease the ability of individuals to claim...