Discussion Paper on The Review of The Consumer Protection Code

Tue Oct 4 2022

Dear Member,

The Central Bank of Ireland published its Discussion Paper on Consumer Protection, which is the first stage of the review of the Consumer Protection Code on Monday the 3rd of October.  A copy of the Discussion paper is available here.  A summary of the key Broker related aspects is available in the Compliance section of the members website in the following location: Central-bank-codes-handbooks/Summary document of Codes/Requirements.

The Discussion Paper has been launched to seek feedback to the Central Bank on key topics which include:

  • Availability and choice of financial products
  • Firms acting in consumers’ best interests
  • Innovation and disruption
  • Digitalisation
  • Vulnerability
  • Financial literacy

The closing date for submissions is the 31st of March 2023 and the feedback received will inform the Central Bank’s decision-making on proposed revisions to the Code.  Those proposed revisions will in turn be the subject of a formal public consultation next year.

Brokers Ireland are currently reviewing the document and will be meeting with the Central Bank in November/December in relation to our response.  A key priority for Brokers Ireland is advocating for reforms proportionate to the level of risk Brokers pose to consumers.   Given the importance of the CPC for our members we welcome member feedback on the discussion paper,  members can submit this feedback by emailing compliance@brokersireland.ie or call the Compliance unit on 01 661 3067.

Regards

Diarmuid Kelly

CEO, Brokers Ireland


We use cookies in order to give you the best possible experience on our site, for more information, please see our cookie policy.
Accept
Reject
Cookie Policy