Thematic Review of Compliance with the MCC and CPC – Action Plan

On May 29th 2024, the Central Bank released a letter announcing their findings based on a thematic review of compliance with the Minimum Competency Code (MCC) and the Consumer Protection Code (CPC).

The letter specifically requests all retail intermediaries to have conducted a review of their business practices and compliance arrangements by 31st August 2024. Firms must also have a documented action plan in place by then to address any gaps.

Our in-house risk and compliance team have drafted a sample action plan which can be downloaded below.

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