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1. Notice of Intention – Recognition of sustainability knowledge and competence in the MCC

On 23 November 2023, the Central Bank of Ireland ("Central Bank") published a Notice of Intention ("Notice")regarding recognition of sustainability knowledge and competence in the Minimum Competency Code 2017 ("MCC"). The Notice sets out the Central Bank's intention to:

• update appendix 3 of the MCC (which sets out Minimum Competencies for Retail Financial Products) to include competencies in sustainability for all retail financial products;
• introduce amendments to incorporate into appendix 3 of the MCC the suitability requirements under the Markets in Financial Instruments Directive II ("MiFID II") and Insurance Distribution Directive ("IDD"); and