Purpose of this Guide
The purpose of this Guide is to set out the Central Bank of Ireland’s ("the Central Bank") approach to carrying out Consumer Protection Risk Assessments ("CPRAs"). It also describes the Central Bank’s expectations of regulated financial services firms in implementing or enhancing their frameworks for managing risks to consumers.
Foreword
The Central Bank has a statutory mandate to ensure that the best interests of consumers are protected. Our vision is of a well-functioning, well-managed and well-regulated financial services sector that is underpinned by a mature risk management culture, with firms and individuals within those firms acting in the best interests of their customers. This vision is backed up by comprehensive legislation, rigorous supervision, a credible threat of enforcement and powers of redress when consumers have suffered detriment.
As highlighted in the 2017 Consumer Protection Outlook Report, it is important that all regulated financial serv
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