Central Bank Publishes Details Of A Second Prohibition Notice

 On 18 January 2017, the Central Bank of Ireland (the "Central Bank") published a Press Release concerning a Prohibition Notice it issued to an individual under its Fitness and Probity regime, on 23 February 2015. It is the second Prohibition Notice to be listed on the Central Bank's website.

The Press Release is noteworthy for two reasons. Firstly, it is clear that the Central Bank remains focused not only on regulated firms but also on those individuals holding controlled functions. Secondly, and perhaps more interestingly, is why the Central Bank is only publishing details of this particular Prohibition Notice now, almost 2 years after it was issued.

The Prohibition Notice relates to a sole trader insurance intermediary ("Ms. A"), who was prohibited on 23 February 2015, from performing certain pre-approval controlled functions ("PCFs"), for a period of two years. The relevant PCFs were: PCF 10 - Sole Trader, PCF 15 - Head of Compliance with responsibility for