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About Aquest

Advisory Firm and Virtual Academy for Regulated Financial Services firms wanting access to insights, training and guidance on how to be Regulator Intelligent from authorisation to sanctions, new legislation, and everything in between.

Services

Regulator Intelligent; improving your relation with the Regulator. 

 

Programmes for Banks, Admins, Depos, ManCos spanning how to interpret, implement and measure your firm's degree of compliance compared with best practices. 

Contact us

To book a programme, workshop, keynote email Shannon@Aquest.ie

To have Daniel Lawlor speak at your event, please email Shannon@Aquest.ie

To join our Online Academy, email Shannon@Aquest.ie

11 Wynnefield Road, Dublin 6, Ireland

Shannon@Aquest.ie // +353 87 391 0379 

Copyright: 2019 Aquest Ltd.

 

FITNESS AND PROBITY ASSESSMENT

INTENSIVE PROGRAMME

 

SITUATION APPRAISAL

Regulated Financial Service Providers in Ireland are required to comply with the Fitness & Probity regime.  This includes ensuring that only fit and proper persons are appointed to carry out Control Functions and ensuring that F&P obligations are complied with on an ongoing basis after someone has been appointed.


RFSPs need to understand the background and purpose of the F&P regime generally and their ongoing obligations specifically.  Armed with that knowledge, they need to design, implement and test a F&P compliance framework that ensures they stay on the right side of their F&P obligations. 

FITNESS AND PROBITY ASSESSMENT - INTENSIVE PROGRAMME

Objectives, Measures of Success & Value

Objectives:

A rapid deep-dive programme to assist RFSPs in designing, implementing and testing an effective and appropriate F&P compliance framework taking into account:

 

  1. The Central Bank’s expectations regarding how F&P obligations are complied with upon appointment and on an ongoing basis; and

  2. How peer RFSPs are approaching this task.

#FPIAP

Measures of Success:

RFSP will leave the Intensive Programme with:

 

  1. Knowledge of the background and purpose of F&P generally and their obligations specifically.

  2. A practical understanding of the ongoing obligations under F&P and of the Central Bank’s expectations regarding how RFSPs should oversee F&P compliance on an ongoing basis. A framework for constructing the firm’s F&P compliance programme.

  3. Template F&P compliance policy.

#FPIAP

Value:

  • Minimise the risk of reputational damage and costly regulatory fines for breaching F&P regulatory obligations.

  • Design and build or test an existing F&P compliance framework that complies with regulatory requirements, Central Bank expectations and best practice.

  • Avoid the time and expense of trying to fix problems after the event.  Get your oversight right from the outset.

#FPIAP

MEET YOUR FACILITATOR

This programme is delivered by Daniel Lawlor, Lead Advisor at Aquest.  Daniel is the former Head of Funds Policy Team at the Central Bank of Ireland and, before that, Funds Lawyer at William Fry.  He has 17 years’ experience in the financial services industry which was gained both from as a funds lawyer and financial regulator.

METHODOLOGY

PHASE 1

  •  Client take-on process to include review of current approach or proposed approach to F&P compliance including prior to appointment and on an ongoing basis and up to 7 bios for management team

#FPIAP

Setting us up for success

PHASE 2

​Interactive Workshop where:

  • background and purpose of F&P generally and F&P ongoing obligations specifically, including Central Bank expectations, are explained by the Facilitator; and

  • specific approach to be adopted by the RFSP is discussed and tested between ManCo’s F&P Compliance Team and Facilitator

#FPIAP

‘Lay of the land’ workshop

PHASE 3

  • Rapid response access to Daniel Lawlor for 1 RFSP contact for 5 consecutive business days following the Interactive Workshop to address any follow up queries RFSP may have

#FPIAP

Client Support