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:
Separate guides on the Code have been issued for regulated entities and for consumers. This answers many of the questions raised regarding the Code:
Information on the earlier 2006 Code is available below:
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.
Other important guidance for Retail Intermediaries
Handbook of Prudential Requirements for Investment Intermediaries
Guidance for Retail Intermediaries on the requirement to hold Professional Indemnity Insurance Cover
Cross Industry Guidance in respect of Information Technology and Cybersecurity Risks
For information on Fitness and Probity, please click here.