PCF Assessment for Regulated Financial Service Providers, other than Credit Institutions, Credit Unions, Broker Dealers, Retail Intermediaries or Debt Management Firms

This content is relevant for:

  • Bureaux de Change
  • Credit Servicing Firms
  • Crowdfunding  Service Providers
  • Electronic Money Institutions (including Small Electronic Money Institutions)
  • Funds
  • Fund Service Providers
  • High Cost Credit Providers
  • Home Reversion Firms
  • Insurance / Reinsurance Undertakings
  • Investment Firms (MiFID)
  • Money Transmission Businesses
  • Payment Institutions (including Account Information Service Providers)
  • Regulated Markets
  • Retail Credit Firms
  • Section 10 Investment Firms (IIA)
  • Section 26 Investment Firms (IIA)
  • Virtual Asset Service Providers (VASPs)

Click here to find information for other sectors.

Other Financial Service Providers must seek the prior approval of the Central Bank before appointing an individual to a PCF.  The Individual must complete an online Individual Questionnaire (IQ) which is endorsed by the proposing firm and then submitted electronically to the Central Bank for assessment. 

Other Financial Service Providers must not offer to appoint an individual to perform a PCF until the Central Bank has approved the appointment in writing.

The IQ must be completed and submitted online and can be accessed via the Central Bank of Ireland (Portal).

The individual may be called to attend an interview with the Central Bank as part of the assessment process. Further detail on the F&P assessment process including interviews can be found in our F&P Gatekeeper Process document.

Access to the Central Bank of Ireland Portal

Other Financial Service Providers (RFSPs) who currently have access to the Portal will require access to the Fitness and Probity section. If you do not currently have access the Fitness and Probity Administrator in your firm will be able to provide you with this.

For new or existing RFSPs seeking access to the Portal for the first time, please follow the ‘Institution One-Time Portal Set Up Instructions’.

IQ Process

  1. Complete the registration process for the Portal.
  2. Once logged in, the F&P Portal Administrator in your RFSP will provide you with the necessary permissions.
  3. The applicant completes the F&P Profile.
  4. The IQ is started by the proposer and is submitted to the applicant.
  5. The IQ is completed online by an applicant seeking to perform one or more PCF roles.
  6. Once completed, the IQ is returned by the applicant to the proposing entity.
  7. A PCF holder 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.

The ‘Fitness and Probity Individual Questionnaire, Applications and PCF Roles Guidance’ provides further information in relation to the application process.

The IQ comprises of the 11 sections, some of which may not be relevant to an applicant, depending on their personal circumstances.