Central Bank HQ Image: Rollingnews.ie Central Bank HQ Image: Rollingnews.ie THE CENTRAL BANK of Ireland has written to the management at all financial services firms under its regulations to remind them of their legal obligations under the fitness and probity regime.
The regime – introduced in 2010 – is aimed at ensuring individuals who work in these firms meet the highest standard of competence, integrity and honesty. “On occasion applicants have failed to disclose material facts which are either known to proposing firms, or would have been known if proper due diligence of their proposed candidates had been conducted,” it said.
In its letter to firms, the Central Bank says it expects these companies to review its fitness and probity policies, procedures and practices, and then be in a position to demonstrate how these concerns have been considered and acted upon.