Consumer Protection Outlook Report 2022
Tue Mar 22 2022
The Central Bank published its Consumer Protection Outlook Report for 2022 on the 14th of March. The report identified the five key cross sectoral risks facing consumers of financial services, aligned to the Central Bank’s Strategy which was published in September 2021.
The five key cross sectoral risks identified are
- Poor business practices and weak business processes
- Ineffective disclosures to consumers
- The changing operational landscape
- Technology-driven risks to consumer protection
- The impact of shifting business models
The Central Bank has advised that they will undertake a programme of active engagement with key stakeholders including Brokers Ireland in relation to the report. If members have any feedback on the report, please contact the Compliance department by emailing compliance@brokersireland.ie
