Guidance on the Standards of Fitness and Probity

November 2025
Guidance on the Standards of Fitness and Probity

Guidance on the Standards of Fitness and Probity Central Bank of Ireland Page 2 Contents
Contents............................................................................................. 2
Glossary of Terms ........................................................................... 6
Chapter 1 ........................................................................................... 9
Legal Framework............................................................................. 9
Irish Law ...........................................................................................10
The Central Bank Reform Act 2010 .................................................... 10
Central Bank Regulations....................................................................... 11
Standards of fitness and probity .......................................................... 12
Guidance on the Standards of Fitness and Probity......................... 14
Other Guidance......................................................................................... 15
European Legislation ...................................................................16
SSM Framework........................................................................................ 16
European Supervisory Authorities Guidelines................................. 17
The Individual Accountability Framework ..........................18
Interaction between the F&P Regime and the SEAR...................... 19
Interaction between the F&P Regime and the Conduct Standards
........................................................................................................................ 19
Corporate Governance Requirements ..................................20
Other Sectoral Codes ..................................................................22
Enforcement Powers ...................................................................22
Chapter 2 .........................................................................................24
Population of CFs and PCFs ......................................................24
Approach to identifying the CF population .........................25
Identification by the Firm....................................................................... 25
Roles Captured by CF-1: Exercising Significant Influence........ 25
Roles Captured by CF-2: Ensuring, Controlling or Monitoring
Compliance............................................................................................. 26
CF-3 to CF-9: Provision of a Financial Service ............................. 27
Definition of Terms Used (CF-10 – CF-11).................................... 27