On 30 January, the Central Bank published guidance and instructions on completion of the annual Preapproval Controlled Functions (PCF) confirmation return.

The Central Bank has introduced an Annual PCF confirmation return as part of the continuing obligations in relation to fitness and probity. This annual confirmation is required from each regulated financial services provider in respect of each active PCF holder within the firm/funds, confirming that the PCF holder is compliant with the fitness and probity standards.

The requirement for the Board to confirm to the Central Bank of Ireland upon reelection/re-appointment of a PCF holder that his/her circumstances have not changed since pre-approval was granted will be satisfied by the completion of the PCF confirmation return.

A link to the guidance is here.