Thursday, May 30, 2024

Central Bank to review ‘fitness and probity’ regime after tribunal issues scathing critique

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The Irish Financial Services Appeals Tribunal said the rejection of an appointment was not constitutionally fair

The Central Bank has commissioned an independent review into its fitness and probity (F&P) regime after a tribunal found serious flaws in its process.

In a statement the bank said the F&P regime, which gives the regulator the ability to accept or reject individuals for key decision making and customer facing positions, has evolved, but is over a decade old. It added that it had commissioned a review to “ensure that it remains effective into …

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