knowledge 21 March 2025 |

Consumer Protection Code Reform: Central Bank Regulations published

The Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Consumer Protection) Regulations 2025 (the “Regulations”) have appeared on the Oireachtas website and are expressed to come into operation on 24 March 2026.  The Regulations have been eagerly awaited and follow extensive consultation with industry, as part of the review of the Consumer Protection Code 2012, as amended (the “CPC”).

The Regulations will be accompanied by the Central Bank Reform Act 2010 (Section 17A) (Standards for Business) Regulations 2025 (the “Standards for Business Regulations”)1, which have been notified in Iris Oifigiúil and will be available shortly.

The Regulations and the Standards for Business Regulations, together, represent a very significant overhaul of the regulatory protection regime for consumers and certain small businesses.

Notably, the Regulations integrate, and will update and replace, requirements from a number of Central Bank instruments, including the CPC, the Code of Conduct on Mortgage Arrears 2013 (as amended), the Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Licensed Moneylenders) Regulations 2020, and the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Insurance Requirements) Regulations 2022.

Financial service providers will need to undertake a detailed analysis of coming changes to their regulatory obligations and impacts on their businesses (including in relation to processes, procedures and documentation).

We are fully engaged in a detailed analysis of new and changed requirements and will publish further briefings in due course.  For any queries, please get in touch with a member of our Financial Services Regulatory Group.

Also contributed to by David O’Keeffe Ioiart

  1. The Standards for Business Regulations give effect to section 17A of the Central Bank Reform Act 2010 by prescribing “standards of business” for the purpose of ensuring that that in the conduct of its affairs financial service providers act: (i) in the best interests of customers and of the integrity of the market; (ii) honestly, fairly and professionally; and (iii) with due skill, care and diligence.

This document has been prepared by McCann FitzGerald LLP for general guidance only and should not be regarded as a substitute for professional advice. Such advice should always be taken before acting on any of the matters discussed.