Introduction for Regulated Financial Service Providers

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

The Fitness and Probity Regime applies to persons in senior positions, known as Controlled Functions (CFs) and Pre-Approval Controlled Functions (PCFs), within Regulated Financial Service Providers (RFSPs).

There are currently 11 prescribed CFs and 54 PCFs for RFSPs other than credit unions.

Regulations designating CFs and PCFs:

Principal Regulations 2011 (S.I. No. 437 of 2011)

Amending Regulations 2011 (S.I. No. 615 of 2011)

Amending Regulations 2014 (S.I. No. 394 of 2014)

Amending Regulations 2015 (S.I. No. 545 of 2015)

Amending Regulations 2020 (S.I. No 410 of 2020)

Amending Regulations 2022 (S.I. No 169 of 2022)

Statutory Codes:

Minimum Competency Code 2011 (Note: the onus is on Regulated Financial Service Providers to determine if the Minimum Competency Code applies.)