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Fitness and probity for funds and their service providers
A quick guide to compliance
Implementing the Central Bank’s new fitness andprobity standards in an investment funds context
This brochure sets out and explains the recently issued Guidance on Fitness and Probity Standards (Guidance) and the new due diligance timeframe.
Who is subject to the regime?
PCFs are senior managerial positions requiring prior approval of the proposed individual by the Central Bank. CFs include other positions falling under the new Fitness & Probity standards (Standards) and the Central Bank may investigate, suspend, remove or prohibit any person from acting in a CF position.