The Central Bank has banned a director of a financial services firm from working in a number roles in the industry.
Michael Kearns acted as an executive director of Home Credit Ireland Limited, which is authorised as a Moneylender by the Central Bank.
Under the bank's Fitness and Probity Regime, he has been prohibited from performing any controlled function in all regulated financial service providers for a period of two years.
The action comes after the Central Bank found that Mr Kearns failed to properly disclose the circumstances under which his former employment had ceased when he made an application for a pre-approval controlled function position in Home Credit Ireland.
The Fitness and Probity Regime was introduced by the Central Bank in 2010 to ensure that people working in regulated firms meet high standards of "competence, integrity and honesty".
Seana Cunningham, the Central Bank's Director of Enforcement and Anti-Money Laundering, said that approval is required from it before an individual can be appointed to a senior position in financial services.
She said this "gatekeeper role" allows the Central Bank to assess the fitness and probity of applicants for senior positions.
"The Central Bank, in the performance of this gatekeeper role, is entitled to expect and insist on absolute candour and honesty from applicants," Ms Cunningham said.
"Full disclosure at application stage is required in order that the Central Bank can properly assess the fitness and probity of individuals before they are approved. Consequently, the provision of false or misleading information to the Central Bank may lead to the most serious of consequences," she said.
This includes either denial of approval, or, if approval has previously been granted, as it was in today's case, prohibition from financial services.
