The Central Bank issued Consultation Paper 51 on amendments to the fit and proper regime to heighten the fitness and probity regime. The new requirements are to apply to all entities which are regulated by the Central Bank, with the exception of credit unions. The new regime is to take effect from 1 September, 2011 and a number of transitional arrangements are listed in the consultation. The Central Bank has requested comments on the consultation by Friday, May 20, 2011. For further information please click here.