a.This article addresses the qualitative requirements contained in the regulations and emphasises the key focus of the Central Bank in its on and off site examination of IB.
b.The qualitative rules in this Standard come into force on 30 June 2022. Any IB that expects to be in breach of the Regulations and Standard must approach the Central Bank to discuss a remediation plan. Breaches will be dealt with on a case by case basis. The Central Bank will apply proportionality in determining the suitability of some of the more complex requirements for smaller IBs.