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ARTICLE · 20 OCTOBER 2016

Fitness And Probity - Ongoing Obligations

Dillon Eustace
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The Central Bank's Fitness and Probity Regime applies to regulated financial service providers which include banks, insurance companies, retail intermediaries, investment funds, MiFID investment firms and fund service providers.

IrelandFinance and Banking
Dillon Eustace
Dillon Eustace
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The Central Bank's Fitness and Probity Regime (the "Fitness and Probity Regime"), which was implemented in full on 1 December 2012, applies to regulated financial service providers ("RFSPs") which include banks, insurance companies, retail intermediaries, investment funds, MiFID investment firms and fund service providers.

The Fitness and Probity Regime comprises Part 3 of the Central Bank Reform Act 2010 (the "Act"); the Central Bank Reform Act 2010 (Section 20 and 22) Regulations 2011 (as amended) (the "Principal Regulations"); and the Fitness and Probity Standards (Code issued under Section 50 of the Central Bank Reform Act 2010) (the "Standards").

Fitness and Probity Requirements

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