Regulatory Service Standards Performance Report H1 2017 Published

• Central Bank reports on performance against authorisation standards
• Service standards set out the timeframes applying to authorisation applications
• Central Bank’s authorisation process important in setting high standards for firms from the outset

The Central Bank of Ireland is the competent authority in Ireland for the authorisation and supervision of regulated financial service providers and investment funds. The Central Bank is committed to providing a clear, open and transparent authorisation process while ensuring a rigorous assessment of each application against  the applicable regulatory standards.  Against this background the Central Bank has today published the Regulatory Service Standards Performance Report: H1 2017.  This document sets out the Central Bank’s performance against service standards that it has committed to for the authorisation of financial service providers and Pre-Approval Control Functions under the fitness and probity regime.

96% of the Service Standards covering most sectors regulated by the Central Bank were met in the first half of 2017. 

Acting Deputy Governor, Financial Regulation, Bernard Sheridan said: ‘We are committed to providing a clear, open and transparent authorisation process while ensuring a rigorous assessment of each application against the applicable regulatory standards.  This Report sets out how the Central Bank is delivering against those standards."