Issue 4 2023 Changes to the Fitness & Probity application process – March 2023

The Central Bank of Ireland (CBI) is updating its portal to facilitate the submission of applications for Pre-Approval Controlled functions. From April 24, 2023, Individual Questionnaires (IQ) will be submitted via the Central Bank Portal, not the Online Reporting System (ONR). This enhancement aims to provide applicants with an improved submission process.
Key changes include:
– A new Fitness and Probity (F&P) Profile, which will store personal details, professional experience, qualifications, memberships, training, regulatory approvals, and positions in other firms. This profile will only need to be completed once and can be used for subsequent submissions.
– The option for applicants to share information about their gender, country of birth, and ethnicity for diversity analysis.
– A three-stage IQ submission process, with the proposer completing the first stage, followed by the applicant completing most of the remaining questions and the proposer completing the final declaration.
„An overview of the changes to the system is provided in this document. Further details on the new system will be communicated later this month. If you are not already a Portal user, you should register now. View guidance on how to do this. Otherwise no action is required at this time.“