Further to Consultation Paper 153 on the Individual Accountability Framework and the related Feedback Statement on the IAF, the Central Bank of Ireland will introduce two new PCF roles from 29th December 2023.
The new roles will be:
- PCF-54 Head of Material Business Lines for Insurance Undertakings
- PCF-55 Head of Material Business Lines for Investment Firms.
The Central Bank of Ireland will also introduce an amendment to PCF 16 ‘Branch Manager of branches established outside the State’ such that it is only applicable where the business arising from the branch amounts to 5% or more of, as applicable, the assets or revenues or gross written premium of the regulated financial service provider. An Information Note addressing this change will be published in January 2024.
Further to Consultation Paper 133 on ‘Enhancements to the Central Bank Client Asset Requirements, as contained in the Central Bank Investment Firms Regulations’, the Central Bank of Ireland will introduce the Head of Client Asset Oversight for credit institutions.
Amendments to the List of Pre-approval Controlled Functions (PCFs) - December 2023
If you are not already a Portal user, you should register now. View Guidance on how to do this.
Link to "Guidance on How to Submit IQ"
See IAF Feedback Statement, Guidance and Regulations.