Revocations Process for Brokers/Retail Intermediaries

This section sets out the requirements of the Central Bank where a Broker/Retail Intermediary proposes to seek voluntary revocation/cancellation of any authorisation/registration held by the relevant Broker/Retail Intermediary. Firms seeking to apply for a voluntary revocation need to ensure that their customers are not negatively affected by the process. Requests for voluntary revocation should be submitted to the Central Bank by completing the Application Form below and submitting it together with all of the required supporting documentation to the Central Bank at the email address provided on the Application Form.  The Central Bank has developed a ‘Guide to Voluntary Revocations’ to assist you with submitting a complete Application Form. Please ensure you read this guide before starting to complete the Application Form, in order to ensure you complete it correctly and fully. Incomplete applications will not be processed and may be returned thereby potentially exposing your firm to increased regulatory levies and/or other levies by reason of the delay in the removal of the firm’s name from the Central Bank’s registers of regulated firms. The authorisation/registration held by your firm can be checked on the Central Bank’s registers.

Brokers/Retail Intermediaries fall to be regulated under one or more of the following pieces of legislation:

• European Union (Insurance Distribution) Regulations, 2018 (“the IDR”) – Brokers/Retail Intermediaries that are registered as insurance, ancillary insurance and reinsurance intermediaries under the IDR.
• Consumer Credit Act, 1995 (“the CCA”) – Brokers/Retail Intermediaries that are authorised as mortgage intermediaries under the CCA.
• European Union (Consumer Mortgage Credit Agreement) Regulations 2016 ("the CMCAR") – Brokers/Retail Intermediaries that are authorised as Mortgage Credit Intermediaries.
• Investment Intermediaries Act, 1995 (“the IIA”) – Brokers/Retail Intermediaries that are authorised as Investment Intermediaries under the IIA (formerly multi-agency intermediaries/authorised advisors).

Please ensure that all sections of the Application Form are completed. Any queries in relation to the revocation process should be addressed to [email protected].

If you have any queries regarding any outstanding regulatory levies due by the firm to the Central Bank, please contact our billing & collections section at [email protected]. Any queries regarding outstanding contributions to the Investor Compensation Fund should be addressed to [email protected].

All Brokers/Retail Intermediaries are obliged to comply with the requirements imposed on them under the IDR, the CCA, the CMCAR, the IIA and the Consumer Protection Code in relation to their business generally and in relation to the cessation of business. If you are in any doubt about the obligations of the firm in that regard, you may wish to take legal or other professional advice.

Application for Revocation of Authorisation/Registration of Investment, Insurance/Reinsurance, Mortgage and Mortgage Credit Intermediaries.