Regulatory Alerts2015-12-18
Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Lending to Small and Medium-Sized Enterprises) Regulations 2015
The Central Bank of Ireland issued these Regulations to establish a comprehensive code of conduct for regulated entities lending to micro, small, and medium-sized enterprises. The rules mandate specific requirements for pre-contract disclosures, advertising standards, annual credit reviews, and transparent handling of borrowers in financial difficulties. These obligations apply to various lending activities with phased commencement dates in 2016 and 2017, ensuring consistent protection for business borrowers.
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