Annual PCF Confirmation Return

 Introduction

The Central Bank's Fitness and Probity Regime (the "Fitness and Probity Regime")¹, applies to regulated financial service providers ("RFSPs") which include banks, insurance companies, retail intermediaries, investment funds, MiFID investment firms and fund service providers.

The Central Bank recently published the submission dates by which a RFSP must submit its Annual PCF Confirmation Return (the "Return") to the Central Bank. The purpose of this bulletin is to set out the steps which a RFSP must take to enable it to submit the Return by the date specified by the Central Bank.

Annual Confirmation

Under the Fitness and Probity Regime, a RFSP must obtain an annual confirmation (the "Confirmation") from all persons performing a Controlled Function ("CF") and a Pre-Approval Controlled Function ("PCF"). The Confirmation must include the following from the relevant CF or PCF (as the case may be);