This document sets out the CBI's performance against Service Standards it committed to in respect of processing of Fitness and Probity Pre-Approval Control Functions (PCF) Individual Questionnaire (“IQ”) applications and Authorisation of Regulated Financial Services Providers. Some of the findings include the following:
- In respect of fitness and probity standards – CBI had a target of processing 85% of 'standard' IQ applications within 15 business days. This target was exceeded, with 92.51% of these applications being processed within 15 business days.
- In respect of authorisation standards – CBI had a target of processing 100% of complete application forms within 6 months. This target has also been met.