The Central Bank has published a Discussion Paper on the Consumer Protection Code and the Digitalisation of Financial Services. View the Discussion Paper
The objective of this Discussion Paper is to stimulate discussion with consumers, regulated financial services firms, FinTech firms and any other interested parties so as to determine:
- how the Consumer Protection Code addresses emerging risks from digitalisation;
- whether existing protections need to be enhanced or adapted in specific areas; and
- whether there are impediments in the Code to firms adopting technologies that may be beneficial to consumers.
The responses to this Discussion Paper will inform their consideration of any potential future policy outputs in the area of consumer protection. Should specific policy proposals be advanced on foot of feedback to this Paper, they will bring forward a consultation paper in 2018.
The Discussion Paper will be open for comment until 27 October 2017.
Please see also information release Here:
Discussion Paper on the Consumer Protection Code and the Digitalisation of Financial Services published | Central Bank of Ireland
The Central Bank has published a Discussion Paper on the Consumer Protection Code (the Code) and the Digitalisation of Financial Services.
To inform the Discussion Paper, the Central Bank issued a survey to regulated firms seeking information on the new and innovative products and services that have been offered or are in development in the Irish market for consumers in the digital financial services context. An online survey was issued to 21 regulated firms, representing the main players, across five sectors – Banking, Insurance, Investment Firms, Payment/Electronic Money Institutions and Retail Intermediaries.
The Industry Research on the Digitalisation of Financial Services has been published and is available here.