Communications and Publications

Notice I 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)

Announcements

October 2022

Changes to the Fitness & Probity application process

The Central Bank of Ireland Portal will be enhanced to facilitate the submission of applications to become a holder of a Pre-Approval Controlled function.  Individual Questionnaires will no longer be submitted via the Online Reporting System (ONR), but will instead be submitted via the Central Bank Portal.

These changes will go live in Q1 2023 and will provide applicants with an enhanced process for submitting applications.  Further details on the new system will be communicated in January 2023. No action is required at this time.

May 2022

Further to the Amending Regulations and related Feedback Statement published on 5th April 2022:

The In-Situ Returns process opens on ONR from Wednesday 18 May for a six week period.  All firms are to use the below file to submit their returns.  Closing date is 30 June 2022.

PCF In-Situ Return File to be used when submitting PCF In-Situ Return 2022 Regulations

Guidance on PCF In-Situ Return 2022

April 2022

Further to the Notice of Intention issued in September 2021, the Central Bank of Ireland is:

  • Splitting the existing PCF-2 Non-executive director into PCF-2A Non-executive director and PCF2-B Independent non-executive director (under the ‘General’ category);
  • Amending the titles of the roles which relate to the chairing of a board or committee i.e. PCF-3 – PCF-7 (under the ‘General’ category);
  • Expanding PCF-16 Branch Manager of branches in other EEA countries to include branch managers in non-EEA countries (under the ‘General’ category);
  • Removing PCF-31 Head of Investment (under the ‘Investment Firms’ category); and
  • Removing the existing PCF-15 Head of Compliance with responsibility for Anti-Money Laundering and Counter Terrorist Financing Legislation and introducing PCF-52 Head of Anti-Money Laundering and Counter Terrorist Financing Compliance (under the ‘General’ category).

Read the related Feedback Statement and the Amending Regulations published on 5th April 2022.

September 2021

Notice of Intention - Amendments to the List of Pre-Approval Controlled Functions (PCFs) | pdf 664 KB

June 2021

Fitness and Probity Interview Guide | pdf 937 KB

November 2020

Dear CEO Letter - Thematic Inspections of Compliance with Obligations under the Fitness and Probity Regime | pdf 157 KB

October 2020

Further to the Notice of Intention issued in February 2020, the Central Bank of Ireland is:

  • Introduced:   
    • Chief Information Officer (under the ‘General’ category)
    • Head of Material Business Line (under the ‘Banking’ category)
    • Head of Market Risk (under the ‘Banking’ category)
  • Split PCF-39 Designated Person into six PCF roles aligned to the specific managerial functions.

Read the related Frequently Asked Questions and the Amending Regulations 2020 published on 9 October 2020.

Additions to the List of Pre-approval Controlled Functions - October 2020 | pdf 891 KB

February 2020

Notice of Intention - Additions to the list of PCFs February 2020 | pdf 862 KB

Consultations and Reports

Legal Notices