Insurance and investment intermediaries are regulated by the Financial Regulator under the Investment Intermediaries Act, 1995. The status of these intermediaries fall into the categories of Authorised Advisors (AA) or Multi-Agency Intermediaries (MAI) [formerly known as Restricted Investment Product Intermediaries (RAIPI)].

The application process involves the submission of an application form, certain prescribed documentation(this includes a business plan) and individual questionnaires for directors, shareholders and senior management. Additional information may be requested by the Financial Regulator, if necessary.

You will find the application for authorisation under the IIA and a guidance note by clicking here and selecting authorisation process.

Once authorised, subsequent amendments can be made to a firm’s authorisation subject to the approval of the Financial Regulator. Changes in the firm’s ownership or management structure are also subject to such approval.

Firms registering as insurance intermediaries must also complete and return the application for registration as an insurance/reinsurance intermediary under the European Communities (Insurance Mediation) Regulations 2005.

If you require any help in getting authorised you can contact PIBA on 01 4922202