Regulatory Alerts2022-03-28
Notice of Intention - Upcoming changes following enactment of the Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill
The Central Bank of Ireland intends to extend its authorisation regimes to cover Retail Credit Firms and Credit Servicing Firms, including entities providing hire purchase and buy now pay later agreements. The regulator will amend the Consumer Protection Code 2012 and the Minimum Competency Code and Regulations 2017 to incorporate these new activities and define specific compliance scopes. Firms engaged in these activities are requested to signal their intention to seek authorisation and prepare for compliance with the updated statutory codes upon the Bill's enactment in 2022.
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