The Central Bank has found that many financial firms under its regulation have not complied with its 'Fitness and Probity' rules.
The Bank has issued a letter to the management of all regulated financial service providers reminding them of their obligations.
The Bank did not name any firms which it found at fault.
Its Fitness and Probity rules verify that managers in financial services firms are 'competent and capable… honest, ethical and act with integrity and must be financially sound.'
The Bank's inspectors found a wide divergence in how firms complied with the rules. They also found that some firms had no procedures to check qualifications or references.
