Regulatory Alerts2005-12-16
Consumer Protection Code Regulatory Impact Analysis
The Financial Regulator issued this Regulatory Impact Analysis to justify the introduction of a unified Consumer Protection Code replacing fragmented sectoral rules for all financial services providers in Ireland. The document outlines the rationale for statutory regulation over self-regulation, citing market imperfections such as asymmetric information and the need to correct consumer protection failures. It details the costs and benefits of the new framework, emphasizing enhanced consumer outcomes and industry compliance standards while acknowledging implementation expenses.
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