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ARTICLE · 24 JANUARY 2024

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The Central Bank of Ireland ("Central Bank") has updated its Fitness and Probity ("F&P") Standards ("Standards") and its GuidanceOpens in new window on F&P Standards ("Guidance").

IrelandCorporate/Commercial Law
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1. Central Bank updates its Fitness and Probity Standards and Guidance

The Central Bank of Ireland ("Central Bank") has updated its Fitness and Probity ("F&P") Standards ("Standards") and its Guidance on F&P Standards ("Guidance").

The Guidance aims to assist Regulated Financial Service Provider ("RFSPs"), holding companies and individuals performing Controlled Functions ("CFs") (including Pre-Approval Controlled Functions) in complying with enhancements to the F&P regime introduced by the Individual Accountability Framework.

The Guidance has also been updated to reflect the inclusion of holding companies within the scope of the Guidance.

The main changes to the Guidance are outlined below:

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