The Director of Consumer Protection, Bernard Sheridan has previously reiterated the need for Boards and senior management to consider the risks that their business models, practices and behaviours pose to their customers. They must ensure that the right culture is embedded within their firms all the way from the board room to front line staff. This infographic sets out the Central Bank's Consumer Protection Priorities for 2016/2017. The regulators are calling on firms to demonstrate that they have consumers’ best interests at the centre of all that they do and that they manage the conflict between their customers' and their shareholders' interests.
Firms must give examples of how risk systems deliver fair outcomes for consumers