Brokers welcome Central Bank’s review of consumer protection code

Brokers Ireland hopes the review will introduce a proportionate level of regulation that will benefit consumers without hindering brokers

Brokers Ireland chief executive Diarmuid Kelly said overregulation was one of the main reasons many smaller brokers were looking to exit the market.

Business group Brokers Ireland welcomed the latest proposal by the Central Bank to strengthen the consumer protection code for financial products.

The Central Bank is conducting a review of the code to make sure consumers are protected and have an appropriate level of choice when it comes to financial services.