Regulatory Alerts2011-10-18
Consumer Protection Code 2012
Issued by the Central Bank of Ireland, the Consumer Protection Code 2012 establishes binding regulatory standards for all authorized financial services providers operating in the State to ensure consistent consumer protection. The Code mandates strict operational conduct, including prohibitions on unsolicited pre-approved credit and contingent selling, requirements for transparent pricing and conflict-of-interest management, and specific safeguards for vulnerable consumers and bundled products. It comprehensively governs credit, insurance, investment, and payment services while explicitly excluding certain low-value credit and reinsurance activities, with the Central Bank empowered to enforce compliance through administrative sanctions and legal proceedings.