Reporting Requirements
Firms authorised as Debt Management Firms are required to comply with the Authorisation Standards and Requirements for Debt Management Firms. Section 5.2 of the requirements states that:
''At the frequency specified to the debt management firm in the conditions of authorisation, a debt management firm must submit to the Central Bank a report setting out certain information. The details relating to the requirements to provide this report will be set out (with the conditions of authorisation) in the appendix to the notification of authorisation''.
The legal basis for this requirement is set out in Section 22 of the Central Bank (Supervision and Enforcement) Act, 2013
Debt Management Firm Return
Debt Management Firms are required to submit the Debt Management Firm Return to the Central Bank on an annual basis. The reporting date for each firm is determined by its annual financial year end date and returns must be submitted no later than six months after that financial year end/reporting date through the Central Bank Online Reporting System.
Multiple Authorisations
Where a Debt Management Firm holds an authorisation(s) as a retail intermediary or a Payment Institution in addition to its authorisation as a Debt Management Firm, it must submit the Debt Management Firm Return in addition to the Retail Intermediary Annual Return and/or relevant Payment Institution returns. Details of these returns can be found here and here
How to Access the Online Reporting System
Please click this link to access the Online Reporting System (ONR).
The following documents are available to provide guidance on the Debt Management Firm Return.
Breaches
Debt Management Firms are required to report any material breaches of legislative or supervisory requirements to the Central Bank of Ireland.
Ad Hoc Returns
In addition to the above return certain returns are scheduled and submitted by the firm on an ad hoc basis. If such returns are required, the firm will be notified via the ONR.
Fitness and Probity Requirements
Information on reporting requirements for Fitness and Probity is contained in the Fitness and Probity section of the Central Bank website.