The Consumer Protection Code 2025 published by the Central Bank of Ireland will take effect from 24 March 2026. This revised code aims to enhance consumer protection in the financial services sector, focusing on digitalisation, effective information provision, and addressing issues like financial abuse, fraud and scams. It builds on the existing Consumer Protection Code 2012 and introduces new regulations and guidance for regulated firms to ensure they meet updated consumer protection standards.

Assisted Decision Making (Capacity) Act 2015

The Act establishes a modern, rights based legal framework that supports adults (18+) whose capacity to make certain decisions may be impaired, effective from 26 April 2023 it replaces the outdated Wards of Court system.

  • Enacted 30 December 2015
  • Assisted Decision-Making (Capacity) (Amendment) Act 2022 enacted December 2022
  • Act (as amended) commenced 26 April 2023
  • Decision Support Services began operations 26 April 2023

Decision Support Services (DSS)- Seirbhís Tacaíochta Cinnteoireachta

Director of the DSS is appointed by the Mental Health Commission to carry out functions conferred on the Director by the 2015 Act.

Funded by Department of Children, Equality, Disability, Integration and Youth since 2020, functions include:

  • Promote awareness & confidence.
    Provide information to relevant persons & decision supporters

  • Provide information & guidance.
    To bodies on interactions with relevant persons & decision makers

  • Recommend organisational change to promote the exercise of capacity

  • Maintain registers & supervise arrangements under the Act

  • Investigate complaints about decision support arrangements

  • Maintain panels of persons to carry out certain roles under the Act

  • Publish codes of practice to provide guidance

  • Central Authority for Hague Convention on International Protection of Adults

  • Report and make recommendations to the government

Trusted Contact Person Support

This new provision under the revised Consumer Protection Code 2025 does not require that a customer be identified in advance as a consumer in vulnerable circumstances.

Definition of a Trusted Contact Person

A Trusted Contact Person (TCP) is an individual whose name and contact details are recorded by Standard Life Plc following a written request from the policyholder(s) and confirmation of agreement signed by the nominated, TCP.

The customer agrees, that Standard Life Plc may contact the nominated TCP, in the following specific circumstances:

  • 01

    Where there are concerns about possible financial abuse.

  • 02

    To confirm the specifics of the customer's:

    a. Contact information;
    b. Health status;
    c. or Appointed legal guardian, executor or trustee.

  • 03

    Where there are difficulties in communicating with customers.

A Trusted Contact Person, TCP, has no authority to give instructions or changes on the policy, on the customer’s behalf, by any means, online, phone, email or in written correspondence.

If a firm is aware a decision-making representative has been appointed under the ADMA, this representative takes precedence over the Trusted Contact Person. Where a customer wants/needs their appointed person to make decisions for them about their plan or give us instructions, this is NOT an appropriate arrangement for that customer and you should signpost your client to www.decisionsupportservices.ie

The benefits of this arrangement/mandate for your client(s) are:

  • Enhanced Protection – Helps safeguard against financial abuse and allows a firm to confirm specifics information, mentioned above
  • Peace of Mind – Customers know someone they trust can be contacted if concerns arise, without giving up any control of their policy(ies)
  • Support without Legal complexity – This offers a simple additional layer of support to policyowner(s) without need of formal arrangements
  • Improved Communication – If policyowner is unreachable eg Travelling, Standard Life Plc can contact the TCP
  • Empowerment and choice – Policyowner(s) retain autonomy over their policy(ies) having the option to involve someone they trust

Note: this mandate can be revoked by the customer and/or TCP at any time.

More resources and support

  • Vulnerable Customers

    Helping you to provide the best service for customers in vulnerable circumstances. 

  • Need more support?

    Call your usual Standard Life contact or email:

     

    Retail adviser queries

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