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.

Read more about the Code.

Minimum Competency Standards

The minimum competency standards set out minimum professional standards for persons providing certain financial services, in particular when dealing with consumers. The aim is to ensure that consumers obtain a minimum acceptable level of competence from individuals acting for or on behalf of regulated firms in the provision of advice and information and associated activities in connection with retail financial products.

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.

In October 2011, the Central Bank published a revised Minimum Competency Code which came into effect on 01 December 2011.

The Minimum Competency Code 2017 (MCC 2017) and the Central Bank (Supervision and Enforcement) Act 2013 (Section 48 (1)) Minimum Competency Regulations 2017 (MCR 2017) came into effect on 3 January 2018. Together, the MCC 2017 and the MCR 2017 replace the Minimum Competency Code 2011.

You can find more details at the following link MCC 2017 and the MCR 2017.

Other important guidance for Retail Intermediaries

View information on Fitness and Probity.