Fitness and Probity for Regulated Firms
Notice | COVID-19 and Pre-approval Controlled Functions (PCF)
Find out how regulated firms should manage Pre-approval Controlled Functions (PCFs) vacancies at this time. Learn more in the COVID-19 Hub. (23 April 2020)
The Fitness and Probity Regime was introduced by the Central Bank under the Central Bank Reform Act 2010 (the 2010 Act). It is critical to the protection of the public interest and to ensuring there is public trust and confidence in the financial system.
The core function of the Fitness and Probity Regime is to ensure that individuals in key and customer facing positions (referred to in the legislation as Controlled Functions (CFs) and Pre-Approval Controlled Functions (PCFs)) within a Regulated Financial Service Provider (Regulated Firm) are competent and capable, honest, ethical and of integrity and also financially sound. Read more about the Fitness and Probity regime.
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