Codes / Guidance on Regulatory Requirements

Please see relevant Requirements and Guidance reference material listed below:

Consumer Protection Code

The Consumer Protection Code is a set of rules and principles that all regulated financial services firms must follow when providing financial products and services to consumers. The provisions of the Consumer Protection Code came into effect on 01 July 2007.

On 19 October 2011, the Central Bank of Ireland published a revised Consumer Protection Code (2012 Code), which came into effect from 1 January 2012 for regulated entities including banks, insurance and investment companies and intermediaries.

The Code is available to read here:

Consumer Protection Code 2012 | pdf 1789 KB Consumer Protection Code 2012 1 January 2012 to 31 December 2014 | pdf 1417 KB

Separate guides on the Code have been issued for regulated entitiles and for consumers. This answers many questions raised regarding the Code.

Consumer Protection Code 2012 Guidance (Regulated Entities) | pdf 934 KB A Consumer Guide to the Consumer Protection Code | pdf 690 KB

Information on the earlier 2006 Code is available below.

Consumer Protection Code 2006 | pdf 2389 KB Addendum to Consumer Protection Code 2008 | pdf 171 KB Consumer Protection Code Clarifications Document (2006) | pdf 201 KB Clarification on Provision 4.14 of the Consumer Protection Code (2006) | pdf 27 KB

Minimum Competency Requirements

The Minimum Competency Requirements were published by the Central Bank of Ireland in July 2006 to introduce a competency framework that is designed to establish minimum standards for regulated entities. Firms are required to ensure that individuals who provide advice on or sell retail financial products or who undertake certain specified activities on their behalf acquire the competencies set out in the requirements.

In October 2011, the Central Bank published a revised Minimum Competency Code which came into effect on 01 December 2011.

Industry Letter re Minimum Competency Code 2011,Consumer Protection Code 2012 and Fitness & Probity Standards:13 July 2012 | pdf 124 KB Minimum Competency Code 2011 | pdf 1200 KB Addendum to Minimum Competency Requirements (2008) | pdf 181 KB Minimum Competency Requirements (2006) | pdf 947 KB

Other important guidance for Retail Intermediaries

Guidelines on Variable Remuneration Arrangements for Sales Staff | pdf 964 KB Handbook of Prudential Requirements for Investment Intermediaries | pdf 943 KB Guidance for Retail Intermediaries on the requirement to hold Professional Indemnity Insurance Cover | pdf 1032 KB Cross Industry Guidance in respect of Information Technology and Cybersecurity Risks | pdf 815 KB

View information on Fitness and Probity.