Brokers Ireland-Central Bank Submission Paper CP116
Thu Mar 22 2018
Brokers Ireland made it submission today (Thursday 22 March 2018) to the Central Bank on Intermediary Inducements – Enhanced Consumer Protection Measures CP116. Please click Here to view full submission report.
Brokers Ireland response to the CBOI’s proposal focuses on the following key areas:
- Opposition to the proposed change in terminology of commission to inducement.
- Opposition to the Central Banks proposals to “Mifidise” the intermediary market in the following areas:
- Enhanced Quality of Service
- Use of the term Independent
- Conflicts of interest
- Proposals in relation to restricting payment of commissions.
A Press Release outlining Broker’s Ireland concerns and issues on the CBOI’s new proposals is also available PRESS RELEASE
We would like to thank all members who contributed to the submission by either attending our regional meetings or by forwarding comments for inclusion.
We will keep you updated on any further developments on this important area.