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ARTICLE · 10 APRIL 2025

New Consumer Protection Code – Recommended Steps For Firms To Comply

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Following a consultation process, the Central Bank of Ireland (the "Central Bank") published a revised Consumer Protection Code ("CPC") on 24 March 2025.

IrelandFinance and Banking
Stephen Carty
Stephen Carty
Lorna Smith
Lorna Smith
Philip Keegan
Philip Keegan
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Following a consultation process, the Central Bank of Ireland (the "Central Bank") published a revised Consumer Protection Code ("CPC") on 24 March 2025.

What You Need to Know

The new CPC comprises:

  • Central Bank Reform Act 2010 (Section 17A) (Standards for Business) Regulations 2025 ("Standards for Business Regulations")1; and
  • Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Consumer Protection) Regulations 2025 ("Consumer Protection Regulations")2.

The CPC applies to regulated entities operating in Ireland or providing services to persons in Ireland. However, there are certain exemptions, including for firms providing MiFID services.

Nonetheless, the Central Bank has noted in its guidance that it expects firms providing MiFID services to apply the guidance, on the basis that this is consistent with those firms' obligation to act honestly, fairly and professionally in accordance with the best interests of their clients.

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