Brokers / Retail Intermediaries

A broker / retail intermediary is a regulated firm that engages in intermediation activities relating to certain financial products and/or provides advice in relation to those products and can be:

Industry Notices

Central Bank Publishes new Retail Intermediary Application Forms

01 July 2020

The Central Bank of Ireland (the Central Bank) has today published two new application forms

  1. Application Form for Authorisation as a Retail Intermediary – A FORM” (A FORM)
  2. Application Form for Authorisation as a Retail Intermediary – B FORM” (B FORM)
    to be utilised by applicants seeking authorisation or registration as a retail intermediary under:
  • The Investment Intermediaries Act 1995 (as amended) (the IIA);
  • The European Union (Insurance Distribution) Regulations 2018 (the IDR);
  • The Consumer Credit Act 1995 (as amended)(the CCA); and/or
  • The European Union (Consumer Mortgage Credit Agreements) Regulations 2016 (the CMCAR).

Applicants seeking authorisation or registration under this legislation will be required to complete either the A FORM or B FORM depending on the nature, scale and complexity of their proposed activities.  The relevant criteria to be used to determine which application form should be completed are set out in Part 1 of each application form and on the Retail Intermediary Authorisation Process webpage.

The Central Bank has also published two guidance notes for the completion of each application form which aim to provide further support to applicants when completing the A Form and B Form

  1. Guidance Note on Completing an Application for Authorisation as a Retail Intermediary – A FORM
  2. Guidance Note on Completing an Application for Authorisation as a Retail Intermediary – B FORM”.

In recognition that applicants may have already commenced completing the Application Form for Authorisation as a Retail Intermediary dated September 2018, the Central Bank will accept submissions of either that form or the new forms up until 3 August 2020.  Submissions received from 3 August 2020 must be made using the A Form or B Form.

Note

This notice does not apply to those firms who have already been granted an authorisation or registration as a retail intermediary by the Central Bank.

Handbook of Prudential Requirements for Investment Intermediaries

This Handbook is effective from 1 October 2014 and replaces the Handbook of Prudential Requirements for Authorised Advisors and Restricted Intermediaries introduced in July 2006.

Newsletter

The Brokers/Retail Intermediaries section of the Bank is now publishing a newsletter entitled Intermediary Times three times a year. It will contain news, useful information on regulatory issues, and highlight recently-published documents of interest. Read more about the Intermediary Times.

Report on the Retail Intermediary Sector in Ireland

The Report on the Retail Intermediary Sector in Ireland, published on 28 February 2013, is now available to view here: Report on the Retail Intermediary Sector in Ireland - February 2013.

2019 Intermediary Roadshow Dublin and Galway Presentations

The Presentations from the Retail Intermediary Roadshows in Dublin and Galway in November 2019 are now available to view: Retail Intermediary Roadshows 2019

2018 Intermediary Roadshow in Dublin and Cork Presentations

The Presentations from the Retail Intermediary Roadshows in Dublin and Cork in October 2018 are now available to view: Retail Intermediaries Roadshows 2018

2017 Intermediary Roadshow in Dublin and Athlone Presentations

The Presentations from the Retail Intermediary Roadshows in Dublin and Athlone in November 2017 are now available to view: Retail Intermediaries Roadshows November 2017

2016 Intermediary Roadshow Meath/Limerick Presentations

The Presentations from the Retail Intermediary Roadshows in Meath and Limerick in October 2016 are now available to view: Retail Intermediaries Roadshows 2016

Annual Online Return

Annual Online Return - To allow the Central Bank of Ireland to carry out its supervisory functions, all broker/intermediary firms are requested to submit an Annual Online Return. This section provides guidance for firms who are completing their return.

Useful Information

Authorisation - Under the provisions of the above legislation, firms are required to apply to the Central Bank of Ireland for authorisation or registration. It is an offence to engage in insurance/investment/mortgage intermediation without authorisation or registration. As well as completing an application form, applicants must complete an online Individual Questionnaire (IQ) to comply with Fitness and Probity requirements. Industry Funding Levy - All authorised firms must pay an annual industry levy to the Central Bank of Ireland.

Changes/amendments after Authorisation - Firms must inform the Central Bank of Ireland about any changes or amendments that may affect their authorisation e.g. change of address / trading name / Director or shareholding etc.

Reporting Requirements - In addition to completing an annual online return, please refer to the additional reporting requirements that your firm may be required to comply with.

Codes of Conduct and Regulatory Guidance - For further information on our Codes of Conduct and the regulatory requirements you are required to comply with.

Revocation - If you are considering cancelling your authorisation or registration, you will need to provide at least two months' notice to affected consumers to enable them to make alternative arrangements and to follow the voluntary revocation process.

Registers - If you wish to check if a firm is regulated by the Central Bank of Ireland .Complaints against a financial services provider are handled by the Financial Services and Pensions Ombudsman (FSPO) and not the Central Bank of Ireland.