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:

Consumer Protection Code 2012 | pdf 1601 KB Consumer Protection Code 2012 1 January 2012 to 31 December 2014 | pdf 1421 KB

Separate guides on the Code have been issued for regulated entitles and for consumers. This answers many questions raised regarding the Code.

Consumer Protection Code 2012 Guidance (Regulated Entities) | pdf 939 KB A Consumer Guide to the Consumer Protection Code | pdf 690 KB

Information on the earlier 2006 Code is available below.

Consumer Protection Code 2006 | pdf 2399 KB Addendum to the 2006 Consumer Protection Code Dated May 2008 | pdf 184 KB Letter re: Clarification on Provision 4.14 of the Consumer Protection Code 19 November 2007 | pdf 45 KB Consumer Protection Code Clarifications Document July 2007 | pdf 213 KB

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.

Industry Letter re Minimum Competency Code 2011,Consumer Protection Code 2012 and Fitness & Probity Standards:13 July 2012 | pdf 124 KB Minimum Competency Code 2011 | pdf 1205 KB Addendum to the Minimum Competency Requirements 2008 | pdf 186 KB Minimum Competency Requirements 2006 | pdf 951 KB

Other important guidance for Retail Intermediaries

Guidelines on Variable Remuneration Arrangements for Sales Staff | pdf 968 KB Handbook of Prudential Requirements for Investment Intermediaries (12 June 2020) | pdf 868 KB Guidance for Retail Intermediaries on the requirement to hold Professional Indemnity Insurance Cover | pdf 280 KB

View information on Fitness and Probity.