Central Bank publishes amending regulations and frequently asked questions relating to additions to pre-approved control functions.

Fund Service Providers
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Date: 09 October 2020

Further to the Notice of Intention issued in February 2020, the Central Bank of Ireland is;

  1. Introducing three new Pre-Approval Controlled Functions (PCFs):
    1. Chief Information Officer (under the ‘General’ category);
    2. Head of Material Business Line (under the ‘Banking’ category);
    3. Head of Market Risk (under the ‘Banking’ category);
  2. Splitting PCF-39 Designated Person into six PCF roles aligned to the specific managerial functions.

The related Frequently Asked Questions and the Amending Regulations 2020 were published on 9 October 2020 and can be accessed here.