As set out in the Consumer Protection Outlook Report 2016, the Central Bank has introduced new Authorisation Process Models for the following industry sectors: Money Transmission Businesses; Bureaux de Change Businesses; Debt Management Firms; Retail Intermediaries; Retail Credit Firms; Home Reversion Firms; and Moneylenders.

The key features of the new Authorisation Process Model include: (i) within 3 working days application submissions will be acknowledged; (ii) within 10 working days applicants will be advised whether or not all the key information required has been received to progress to the assessment phase; and (iii) within 90 working days applicants will be advised of the outcome of the assessment phase and the intended decision in respect of the application submission.

New Application Forms and Guidance Notes for each industry sector are now available on the Central Bank website.