The Central Bank of Ireland 'CBI' is the competent authority in Ireland for the authorisation of Investment Firms, Market operators and Data Reporting Services Providers.

Ceritas has the in-depth knowledge and practical expertise to guide firms through each stage of the Central Bank’s application process through to authorisation.  We work with firms across the sector, including but not limited to MiFID authorised Investment Firms, IIA Investment Business firms/Intermediaries as well as Retail Credit Firms.

Step 1 

Not every firm is the same so we will first scope out the regulatory permissions required to meet your proposed business model and establish the level of assistance required to complete the submission for authorisation to the CBI, whether thats working with you directly or your legal team.

Step 2 - Based on that assessment Ceritas can then work with you through;

The Preliminary Meeting request, the Key Facts Document, the formal Application, the Business Plan and the Programme of Operations as required.

The compilation of supporting documentation, policies and procedures as required.

The Central Bank’s Fitness and Probity and Minimum Competency requirements, Individual Questionnaires and compilation of other documents required to obtain Central Bank approval for Pre-Approved Control Functions (PCFs).

Regulatory queries and relations during the application process.

We can also work with the business post authorisation to ensure you operate in line with your authorisation and regulatory requirements.

Changes to qualifying holdings in MiFID  Investment Firms or IIA firms are subject to the prior approval of the Central Bank.

The Acquiring Transaction Notification Form (“ATNF”), is  used to provide prior notification to the Central Bank of Ireland (“the Central Bank”) of a proposed acquisition of, or increase in, a direct or indirect qualifying holding in respect of a number of authorised entities.

We will guide you through each step of the acquiring transaction notification process and outline the relevant requirements including;

The completion of the ATNF.

The compilation of supporting documentation including business plan as required.

The Central Bank’s Fitness and Probity  Individual Questionnaires process and compilation of other documents required to obtain Central Bank approval for Pre-Approved Control Functions (PCFs).

Regulatory queries and relations during the notification process to completion.

The Fitness and Probity Regime and Minimum Competency Code place obligations on Regulated Firms in terms of seeking Central Bank pre-approval for individuals who are proposed to take up a PCF.

Certitas can evaluate, design and implement a Fitness and Probity  framework appropriate to the size, scale and nature of your business. 

We can assess whether you are likely to meet the Central Bank’s Fitness and Probity Standards and satisfy the requirements of the Central Bank’s Minimum Competency Code (MCC).

Then guide you through the Central Bank’s Fitness and Probity  Individual Questionnaires process and compilation of other documents required to obtain Central Bank approval for Pre-Approved Control Functions (PCFs).

Eg changes in PCF roles, appointment or Retirement of a Director or C.E.O.