RegSol Blog


Central Bank of Ireland Enforcement Action – Insure4Less Teoranta t/a Kerry Insurance Group fined €8,400.00 and reprimanded for breaches of fitness and probity (“F&P”)

March 2022

The Central Bank of Ireland (CBI), fined Insure4Less Teoranta t/a Kerry Insurance Group €8,400 for three breaches of fitness and probity (“F&P”) obligations under the Central Bank Reform Act 2010.

The breaches related to three appointments made to Pre-Approval Controlled Function roles without the CBIs approval of these appointments.

Seána Cunningham, Director of Enforcement and Anti-Money Laundering said “The F&P regime is central to the Central Bank’s role as a gatekeeper for the financial system, and in ensuring that we can assess whether the most senior people working in the financial services industry are competent and capable, honest, ethical and of integrity and also financially sound. 

This is a critical element of protecting consumers and investors and ensuring that there is public trust and confidence in the financial system.”

Details of the enforcement can be found through the link below:
Enforcement Action Central Bank of Ireland and Insure4less Teoranta t/a Kerry Insurance Group



By: Eilish Larkin - Regulatory Consultant