Completion of Annual PCF Confirmation Return Deadline 28 February 2017

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14th Feb 2017

Dear IBA Member,

Please note that completion of Annual PCF Confirmation is now available on the Central Bank Online Reporting System. Please follow the steps outlined in the Guidance Instructions to complete and sign off this important Central Bank return.

NB:

  1. All members must complete the PCF ‘On Line Return’ (ONR) by 28 February 2017.
  2. All PCFs must agree to abide by the F & P Standards.
  3. Retail Intermediaries shall not permit a person to perform a PCF role in the firm unless the person has agreed to abide by the F & P Standards.

PLEASE NOTE THAT THERE IS A CHANGE IN THE ON LINE PROCEDURE THIS YEAR.

  • The due diligence declaration is embedded in the process and is completed on line
  • An upload of documents is not required.

Otherwise the procedure is as follows

  1. Bring the F & P Standards to the attention of every person performing a PCF role.
  2. Ask persons performing PCF role to certify that they are aware of the F & P Standards and that they agree to continue to abide by those Standards.
  3. Obtain a signed copy of the agreement as per the attached wording from each individual.
  4. Retain all documents that form the basis of the PCF return including details of the due diligence carried out to verify the compliance of each person performing the PCF role in line with Fitness & Probity standards.
  5. Investigate any concerns regarding F&P of any PCF role holder, take appropriate action and notify the Central Bank of Ireland accordingly. .

 

If you require any guidance in completing the return please click this link to the Central Bank website for Guidance Document.  Annual PCF Confirmation Guidance (including Instructions) or the one page   “How To” guide is also available on the Central bank website.  Please click the link.

Please see below there is a common deadline of 28 February 2017 for all member firms.

SECTOR SUBMISSION DATE
Investment Firms (MIFID) 28 February 2017
Debt Management Firms 28 February 2017
Retail Intermediaries 28 February 2017

 

If you have any queries in relation to this process please contact me.

Please download PCF Completion Form.

Susan Naughton

Head of Compliance

 

compliance