Central Bank introduces New Consumer Protection Risk Assessment Model


30th Mar 2017

The Central Bank of Ireland published its Consumer Protection Risk Assessment (CPRA) Model on 28 March 2017. The Model establishes a new and more intrusive approach for supervisory assessments of regulated firms in relation to conduct and consumer protection risk management. Firm-specific CPRAs will form a key part of CBOI supervisory framework for credit institutions, non-bank lenders, insurance undertakings, investment firms, large retail intermediaries, payment institutions and e-money institutions.

The Central Bank will use this risk assessment tool to monitor how firms identify and manage risks to consumers in the context of `the firms strategies, business models, internal structures and processes. The assessments will be carried out in addition to the CBOI regular program of thematic inspections that examine whether firms are complying with consumer protection requirements including our statutory codes of conduct and relevant European directives. Please click the links below for more information.

A Guide to Consumer Protection Risk Assessment

Relevant Press Release

a diagram with pen about manageing risk in a flow chart