PCF Assessment for Brokers / Retail Intermediaries, Debt Management Firms

Note: The information on this page applies to some sectors only. Check the information for your sector.

The Individual Questionnaire (‘IQ’) must be completed and submitted online and can be accessed through the Central Bank’s Online Reporting System (ONR).

The individual may be called to attend an interview with the Central Bank as part of the assessment process. Further details on the interview process are available in our Fitness and Probity Interview Guide.

Access to the Online Reporting System

Regulated Financial Service Providers (RFSPs) who currently have access to the ONR will require access to the Fitness and Probity returns. If you do not currently have access to these returns, please email us:[email protected].

For new or existing RFSPs seeking access to ONR for the first time, please contact the appropriate authorisation/supervision team in the Central Bank. Please refer to the relevant ‘Contact Us’ section for your applicable industry sector.

The ONR User Manual provides further information in relation to the ONR system including the different ONR account types and important security information.

User Manual for Online Reporting System (ONR) | pdf 6582 KB

IQ Process

The proposing entity will provide the applicant with a user name and password, which the applicant uses to log into ONR.
Once logged in, the applicant will have the option to start a new IQ application.
The IQ is completed online by an applicant seeking to perform one or more PCF roles.
Once completed, the IQ is submitted by the applicant to the proposing entity. (except in the case of Sole Traders or Single Directors as set out below).
An appropriate PCF holder (as specified in the IQ User Manual in the proposing entity will review the IQ, complete a declaration on behalf of the proposing entity and submit the IQ to the Central Bank for assessment.

Sole Traders/Single Directors

Applicants applying as a Sole Trader (PCF-10) or a Single Director in a Private Company Limited by Shares, are required to complete a mandatory declaration (Section 13 of the IQ) and submit their IQ directly to the Central Bank for assessment.

Applicants applying for the role of Sole Trader (PCF-10) or a Single Director (PCF-01) in a Private Company Limited by Shares, are required to undergo Garda Vetting which will carried out by the National Vetting Bureau (NVB).

The eVetting steps:

Step 1: In conjunction with the IQ submission, the Applicant must complete the "Garda Vetting Invitation Form" as required by the NVB. Applicants must complete in writing, sign and submit with relevant proof of identity (guidance on information required is included with the form) to the Central Bank at the address provided below. Fully completed forms and accompanying documentation are to be submitted by email to [email protected] as scanned versions or pictures. All emails should include the unique IQ reference number and the rider “Garda Vetting documentation”.

Step 2: Following receipt of completed vetting information form and proof of identity, the Central Bank will validate and send the Applicant an email with a link inviting them to complete a "Vetting Application Form" on the Garda eVetting portal. This must be completed as soon as possible.

Step 3: The Applicant must complete and submit the Vetting Application Form online.

Step 4: The National Vetting Bureau will process the application and respond in due course with a "vetting disclosure" to the Central Bank. The Applicant will also receive an email at the same time confirming their application has been processed by the Gardaí.

Step 5: The Central Bank will review the vetting disclosure response and progress with the assessment of the IQ application.

Credit Institutions

Significant Credit Institutions and applications for authorisation

The European Central Bank (ECB) is responsible for the Fitness and Probity (F&P) assessments of the following applicants:

The management board of significant credit institutions;
Key Function Holders in significant credit institutions; and
The management board of all credit institutions applying for authorisation.

A list of the significant credit institutions as published by the ECB is to be found here.

The European Banking Authority has published guidelines on the assessment of the suitability of members of the management body and Key Function Holders which can be found here.

An individual seeking to hold a position on the management board of a significant credit institution, as well as Key Function Holders, must complete the F&P Individual Questionnaire which is endorsed by the proposing entity (supervised entity) and submitted to the Central Bank for consideration.

With effect from 21 September 2017, applicants must also complete an Addendum to the F&P Individual Questionnaire which incorporates additional information required by the ECB. This Addendum, when completed, must be uploaded as an attachment (via section 10) to the F&P Individual Questionnaire. The addendum can be found here.

The Central Bank will transmit applications onwards to the ECB for assessment pursuant to European Union Law. The Central Bank will notify the entity in writing of the ECB’s decision as soon as practicable thereafter.

Less Significant Credit Institutions

The Central Bank requires that the Addendum, referred to above, be completed for all Pre-Approval Controlled Function roles in Less Significant credit institutions, and is to be uploaded as an attachment to the F&P Individual Questionnaire.

How To Guides & Videos

The quick 'How-To' Guides and videos below will assist both the applicant and the proposing entity to complete and then submit an IQ to the Central Bank. Please note, the IQ comprises of the 13 sections, some of which may not be applicable to an applicant, depending on their personal circumstances.

Online IQ User Manual | pdf 2333 KB IQ SAMPLE Template | pdf 1004 KB How to Access the IQ | pdf 378 KB