On 1 September 2011, the Central Bank of Ireland ("Central Bank") introduced revised Fitness and Probity standards (the "Standards") for all Central Bank regulated service providers including investment firms and collective investment schemes. The Standards apply to persons occupying what are described as "pre-approval controlled functions" ("PCFs")  which include directors, company secretaries and designated persons appointed to investment funds ("Funds PCFs") and certain other controlled functions.

A more detailed note on the new regime is attached below.

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Stephen Carty

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+353 1 619 2023

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Peter Stapleton

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+353 1 619 2024

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