PCF Assessment for Regulated Financial Service Providers

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.

Garda Vetting Requirements for PCF Applicants

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).

Credit Institutions Irish Residents

Applicants applying for all PCF roles in the Credit Institution sector who are an Irish Resident, 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.

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.

Update to Steps 1 and 2 Above as a Result of the COVID-19 Pandemic

The Central Bank’s Fitness and Probity Section is introducing a temporary measure for the submission of Garda Vetting documentation resulting from the COVID-19 Pandemic as follows:

Fully completed forms and accompanying documentation are to be submitted both by post in hardcopy format (as per standard process) and by email to [email protected] as scanned versions or pictures. This is to ensure that in the event that the Bank cannot access the hardcopies it can still progress your application to as full a degree as possible through the soft copy version. All emails should include the unique IQ reference number and the rider “Garda Vetting documentation”.

Please note that while the Bank may not be in a position at this time to verify that the hardcopies are in the prescribed format (e.g. to include original signatures of independent persons and original documentation) any submissions that are subsequently found not to comply with our requirements may be rejected and you may have to start the entire process again, which may delay your overall application.

If you have already submitted the Garda Vetting form and accompanying documentation to the Bank in hardcopy format and do not have access to these for submission in electronic format please contact [email protected] advising us of this and quoting the IQ Applications’ unique reference number. We will revert in due course to provide guidance.

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.

Original version of the completed & signed vetting invitation form and proof of identity should be posted to the Central Bank at the address below:

Fitness and Probity Regulatory Transactions Division
Central Bank of Ireland
PO Box 11517
Spencer Dock
North Wall Quay
Dublin 1
D01 W920

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 Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) have 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.

From January 2021 Significant Credit Institutions will be required to submit their PCF applications for certain roles via the IMAS Portal. Significant Credit Institutions can contact their Joint Supervision Team (JST) if they have any queries. Guidelines on using the IMAS Portal and technical support can also be accessed via this link.

Declarations forms for IMAS Portal users are as follows:

Bank declaration PDF
Appointee declaration PDF

The Central Bank will notify the entity in writing of the ECB’s decision as soon as practicable thereafter.

Less Significant Credit Institutions

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.

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