Licence Application Support
Our team of compliance professionals has experience of submitting new licence applications or changes to an existing licence to the Central Bank of Ireland (CBI). In most cases your appointed legal firm will handle the initial application and the CBI will undertake to process the application within a specified time period. However, each application will be subject to a rigorous evaluation process by CBI and this may result in questions or requests for further information.
We can assist your business in responding to such requests as the team is experienced in knowing what the CBI’s expectations are from a governance and compliance perspective and how they expect information to be presented to them.
The CBI’s application process is comprehensive and as seen in the section on Regulated Market Entry encompasses the following:
- Board and Committee structure
- Management Information
- Compliance Advisory function
- Policy and procedure framework
- Regulatory change analysis
- Compliance Risk Assessment and the associated monitoring framework
- Compliance issue management and resolution
- Compliance report
CBI may query any of the information supplied or seek further clarification from a new licence applicant.
We are available to assist you and your legal advisers when those questions and information requests are received.