Notice of Intention – Additions to the list of Pre-Approval Control Functions

Central Bank Consultation Papers of Interest

Date: 26 February 2020

The Central Bank of Ireland ("Central Bank") published a ‘Notice of Intention’ on 25 February 2020 which sets out a proposal to:

  1. Introduce 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. Split PCF-39 Designated Person into six PCF roles aligned to the specific managerial functions.

The Bank invites comments from stakeholders on this proposal. Comments should be submitted by email to governanceconsultations@centralbank.ie no later than 26 March 2020.

 

More information:

https://www.centralbank.ie/docs/default-source/regulation/how-we-regulate/fitness-probity/news/notice-of-intention---additions-to-the-list-of-pcfs-february-2020.pdf?sfvrsn=4