Description

The Central Bank of Ireland (the “Central Bank’) has published fitness and probity (“F&P”) Standards for persons performing prescribed functions within regulated financial service providers (“RFSPs”). The term “RFSPs” includes banks, insurance companies, retail intermediaries, investment funds, MiFID investment firms, and fund service providers.

This module is aimed at Directors and other PCF role holders at RFSPs. 

 

Regulated Firms must ensure that they are aware and compliant with theses ongoing obligations. 

Learning Objectives

Learners will attain an understanding of:

a) Director and PCF role holder requirements;

b) The significant declarations that Directors and PCFs must make;

c) The ongoing obligations that Regulated Financial Service Providers are subject to;

d) A detailed breakdown of the Fitness and Probity Standards; 

e) Examples of Central Bank enforcement actions and settlement examples; 

f) the contents and requirements arising out industry communications, including the April 2019 and November 2020 "Dear CEO Letters" from the Central Bank. 

g) an introduction to the Senior Executive Accountability Regime (SEAR).

Learners will also undertake a two-part assessment where:

1) they will be asked to make a series of confirmations which will validate their understanding of the Fitness and Probity Standards; and 

2) they will be tested on their general understanding of the Fitness and Probity regime. 

The results of this assessment can assist individuals and RFSPs validate their annual Fitness and Probity attestations. 

Timing

The duration of this 5 part module is approximately 1 hour. Each section is followed by a knowledge check. A two-part assessment follows the module, which will take around 20 minutes to complete.

Time: Approx. 1 hour

Randomised Assessment

Bespoke Optional

CBI Fitness and Probity Regime: Director & PCF Training

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