Central Bank Reform Act 2010

F70[Notification and training for persons subject to conduct standards

53H

53H.(1) A regulated financial service provider shall for the purpose of ensuring compliance with the common conduct standards and additional conduct standards—

(a) notify persons performing a controlled function in relation to the regulated financial service provider of the common conduct standards and how they apply to a person performing that function,

(b) provide training to persons performing a controlled function in relation to the regulated financial service provider to ensure that such persons have appropriate knowledge of the common conduct standards and how they apply to a person performing that function,

(c) notify persons performing a pre-approval controlled function in relation to the regulated financial service provider or any other function by which the person may exercise a significant influence on the conduct of the regulated financial service provider’s affairs of the additional conduct standards and how they apply to a person performing that function,

(d) provide training to persons performing a pre-approval controlled function in relation to the regulated financial service provider or any other function by which the person may exercise a significant influence on the conduct of the regulated financial service provider’s affairs to ensure that such persons have appropriate knowledge of the additional conduct standards and how they apply to a person performing that function, and

(e) establish, maintain and give effect to policies on how the common conduct standards are integrated into the conduct of the affairs of the regulated financial service provider.

(2) The Bank shall prepare, in such form and manner as it considers appropriate, guidelines for the purpose of providing practical guidance for regulated financial service providers relating to each of the matters referred to in subsection (1).

(3) The Bank shall publish guidelines prepared under subsection (2)

(a) by notice in Iris Oifigiúil, and

(b) on a website maintained by or on behalf of the Bank.]

Annotations

Amendments:

F70

Inserted (29.12.2023) by Central Bank (Individual Accountability Framework) Act 2023 (5/2023), s. 6, S.I. No. 349 of 2023.