Dáil Éireann Debate, Tuesday - 8 July 2014
179. Deputy Dara Murphy asked the Minister for Finance the code that was in place before the Central Bank of Ireland consumer protection code came into effect on 1 July 2007; and if he will make a statement on the matter. [29456/14]
Amharc ar fhreagraI have been advised by the Central Bank that the Consumer Protection Code 2006 was introduced in August 2006 by the Irish Financial Services Regulatory Authority, and came into effect fully on 1 July 2007.
Prior to the Consumer Protection Code 2006, a variety of conduct of business rules existed for the various financial sectors including: the Handbook for Authorised Advisors; the Handbook for Restricted Intermediaries; the Interim Code of Practice for Mortgage Intermediaries; the Interim Code of Practice for Insurance Undertakings; the Code of Conduct for Deposit Agents; and the Code of Practice for Credit Institutions. These requirements were withdrawn with effect from 1 August 2006.
The Bank has further advised me that the Handbook for Investment and Stockbroking Firms, the Code of Conduct for the Investment Business Services of Credit Institutions and Advertising Requirements applicable to Credit Institutions continued to apply to these regulated entities when providing services covered by EU Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments until 1 November 2007 (commonly referred to as MiFID).
