Consumer Protection Code: Central Bank Publishes Discussion Paper

The Central Bank published its Discussion Paper: Consumer Protection Code Review yesterday, kicking-off a three-stage process which will culminate in a new retail conduct framework by the end of 2024 - the new framework will take the form of Regulations, rather than a Code.

Securing consumers' best interests: Against the backdrop of technological innovation, changing consumer preferences and the important role that the financial system will play in the transition to carbon neutral, the Central Bank is looking for public feedback on a number of issues. The overarching theme of the Discussion Paper is 'securing consumers' best interests', both in terms of the availability and choice of financial products and services, and firms acting in the best interests of consumers.