31 Jan 2018 Press Release
- Central Bank reports on performance against authorisation standards
- Service standards set out the timeframes applying to authorisation applications
- Central Bank’s authorisation process important in setting high standards for firms from the outset
The Central Bank of Ireland is the competent authority in Ireland for the authorisation and supervision of regulated financial service providers and investment funds. The Central Bank is committed to providing a clear, open and transparent authorisation process while ensuring a rigorous assessment of each application against the applicable regulatory standards. Against this background, the Central Bank has today published the Regulatory Service Standards Performance Report: H2 2017. This document sets out the Central Bank’s performance against service standards that it has committed to for the authorisation of financial service providers and Pre-Approval Control Functions under the fitness and probity regime.
The Service Standards were met or exceeded for 100% of the targets for which applications were received.