Consumer Protection Code

On the 7th June 2024, the Central Bank of Ireland launched CP158 – Consultation on the Consumer Protection Code which was the culmination of its multi-annual Consumer Protection Code review. While the original iteration of the current CPC was published in 2012, it has seen many addendums, and greater calls for updates to meet the needs of an ever-evolving financial services landscape. The Consultation Paper addresses a number of key themes and the process is intended to result in the Code being replaced by two new regulations:

1. Standards for Business regulations – capturing the existing general principles and addressing Individual Accountability Framework (IAF) requirements for ‘business standards’.

1. Conduct of Business regulations – retaining the majority of CPC provisions but adding additional requirements for digitalisation, vulnerability, unregulated activities, amongst others, and consolidating other codes (such as the CCMA).

This half day course will provide attendees with a full understanding of how the code is evolving and how the proposed regulations can be effectively implemented within their own firms.

Topics Covered:

• CPC Evolution

• CP158

• Proposed Regulations

• General Principles & Governance

• General Requirements

• Conflicts of Interest

• Contact with Customers

• Premium Handling

• Provision of Information & ‘informing effectively’

• Digitalisation

• Vulnerability, Financial Abuse, & Fraud

• Knowing the consumer and suitability requirements

• Post-sale Requirements

• Arrears

• Advertising

• Errors and Complaints resolution

• Records and Compliance

Who should attend:

Staff and management working within CBI regulated firms who deal with customers in the state that fall within the definition of consumer. In particular, those in customer facing, compliance, product design, product development, premium handling, claims management and marketing roles.

Relevant Firms: Credit institutions, insurance undertakings, investment business firms, investment intermediaries, insurance intermediaries, mortgage intermediaries, payment institutions, electronic money institutions, debt management firms and credit servicers.

CPD:

Accredited with the Institute of Bankers, Insurance Institute of Ireland and the LIA. Approval for other bodies can be obtained on request.

A CPD certificate will be issued along with a PDF version of the presentation upon course completion.

Cost: €375 per person

For more information please don't hesitate to contact us at

[email protected]

+353 (0)1 539 4884.

Host or Publisher RegSol Ireland