Investing your money | Central Bank of Ireland

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row"> <div class="col-sm-8 main-content"> <article id="MainContentPlaceholder_T225F410C003_Col00" class="sf_colsIn" data-placeholder-label="Main Content"> <h1 align="center" style="text-align:left;">Investing your money</h1><p><img src="/images/default-source/consumer-hub/explainers---banner-images/consumer-hub-faq-756x350.jpg?sfvrsn=52ec9f1d_4" alt="Seven people around a table conducting a meeting" sf-size="116881" /></p><p>Page last updated: 10 October 2024</p><ul><li><a href="#section1" data-sf-ec-immutable="" class="sf-immutable-selected">Getting financial advice</a></li><li><a href="#section2" data-sf-ec-immutable="">Long-term investment products sold by insurance firms</a></li><li><a href="#section3" data-sf-ec-immutable="">Unregulated investments</a></li><li><a href="#section4" data-sf-ec-immutable="">Structured Retail Products</a></li><li><a href="#section7" data-sf-ec-immutable="">Advertising of investment products</a></li><li><a href="#section5" data-sf-ec-immutable="">Cryptoassets and cryptocurrencies</a></li><li><a href="#section6" data-sf-ec-immutable="">Contracts for Difference (CFDs) </a></li></ul><a name="section1" data-sf-ec-immutable=""><h2 id="Getting financial advice">Getting financial advice</h2></a> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-How-does-the-Central-Bank-regulate-investment-providers-and-advisors-a10f0c92-382a-4305-9da4-4e016175ef60"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#How-does-the-Central-Bank-regulate-investment-providers-and-advisors-a10f0c92-382a-4305-9da4-4e016175ef60" aria-expanded="false" aria-controls="How-does-the-Central-Bank-regulate-investment-providers-and-advisors-a10f0c92-382a-4305-9da4-4e016175ef60"> <strong class="gtm-expanding">How does the Central Bank regulate investment providers and advisors?</strong> </a> </div> </div> <div id="How-does-the-Central-Bank-regulate-investment-providers-and-advisors-a10f0c92-382a-4305-9da4-4e016175ef60" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-How-does-the-Central-Bank-regulate-investment-providers-and-advisors-a10f0c92-382a-4305-9da4-4e016175ef60" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>The Central Bank regulates firms that operate in Ireland who provide investment advice, sell investment products, and make decisions on your behalf.</p> <p>All regulated firms are required to meet specific requirements when providing investment advice and selling products.</p> <p>For example, regulated firms must:</p> <ul> <li>Act in your best interests at all times (including ensuring sales staff are not rewarded into meeting targets that may result in an unsuitable sale to you)</li> <li>Make sure any product they recommend suits you (by completing a thorough assessment of your individual situation and needs)</li> <li>Explain the potential disadvantages/risks as well as the potential benefits of the investment</li> <li>Consider your risk tolerance levels</li> <li>Make sure any communications they give you are clear, factual, informative and balanced.</li> </ul> <p>Find out more about <a href="/consumer-hub/explainers/animated-explainer-series/explainer-what-does-the-phrase-regulated-by-the-central-bank-of-ireland-mean" title="what it means to be regulated by the Central Bank in this video">what it means to be regulated by the Central Bank in this video</a>. </p> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-What-can-I-expect-from-a-regulated-firm-offering-investment-advice-a32802c5-3f30-4707-933f-2317d390b07c"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#What-can-I-expect-from-a-regulated-firm-offering-investment-advice-a32802c5-3f30-4707-933f-2317d390b07c" aria-expanded="false" aria-controls="What-can-I-expect-from-a-regulated-firm-offering-investment-advice-a32802c5-3f30-4707-933f-2317d390b07c"> <strong class="gtm-expanding">What can I expect from a regulated firm offering investment advice?”</strong> </a> </div> </div> <div id="What-can-I-expect-from-a-regulated-firm-offering-investment-advice-a32802c5-3f30-4707-933f-2317d390b07c" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-What-can-I-expect-from-a-regulated-firm-offering-investment-advice-a32802c5-3f30-4707-933f-2317d390b07c" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>When a firm provides you with investment advice or make investment decisions on your behalf, they must:</p> <ul> <li>Complete a suitability assessment considering the nature and complexity of the product and whether it is suitable for you</li> <li>Ensure the product is in your best interest and you fully understand it</li> <li>Carry out an assessment of your individual circumstances (knowledge/experience, risk appetite, financial situation) when making a determination about whether the product is suitable for you.</li> <li>Provide with detailed risk disclosures/warnings in the product brochure and investor documentation.</li> </ul> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Can-I-invest-without-advice-9769fd85-7275-4fc7-bca7-42d965ec8382"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Can-I-invest-without-advice-9769fd85-7275-4fc7-bca7-42d965ec8382" aria-expanded="false" aria-controls="Can-I-invest-without-advice-9769fd85-7275-4fc7-bca7-42d965ec8382"> <strong class="gtm-expanding">Can I invest without advice?</strong> </a> </div> </div> <div id="Can-I-invest-without-advice-9769fd85-7275-4fc7-bca7-42d965ec8382" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Can-I-invest-without-advice-9769fd85-7275-4fc7-bca7-42d965ec8382" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>Some people choose to invest in investment products without advice.  This is known as “execution only”.</p> <p>If you choose to invest without advice, you should familiarise yourself with the investment product, its features and its risks. You should also strongly consider any warning issued by the firm and whether you can afford to lose the money you invest.</p> <p>If you invest in a complex product without advice from <a href="/regulation/industry-market-sectors/investment-firms/mifid-firms" title="a MiFID investment firm">a MiFID investment firm</a>, they must assess your knowledge and experience to determine whether the product is appropriate for you. Firms must give you a clear warning if they consider that the product is not appropriate for you. </p> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-How-do-I-know-my-investment-is-safe-and-the-adviser-I-am-dealing-with-is-legitimate-6f1d71fd-7911-47a9-a785-1b9e8deed9e6"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#How-do-I-know-my-investment-is-safe-and-the-adviser-I-am-dealing-with-is-legitimate-6f1d71fd-7911-47a9-a785-1b9e8deed9e6" aria-expanded="false" aria-controls="How-do-I-know-my-investment-is-safe-and-the-adviser-I-am-dealing-with-is-legitimate-6f1d71fd-7911-47a9-a785-1b9e8deed9e6"> <strong class="gtm-expanding">How do I know my investment is safe and the adviser I am dealing with is legitimate?</strong> </a> </div> </div> <div id="How-do-I-know-my-investment-is-safe-and-the-adviser-I-am-dealing-with-is-legitimate-6f1d71fd-7911-47a9-a785-1b9e8deed9e6" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-How-do-I-know-my-investment-is-safe-and-the-adviser-I-am-dealing-with-is-legitimate-6f1d71fd-7911-47a9-a785-1b9e8deed9e6" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>The Central Bank regulates investment providers and advisers. To operate legally in Ireland, they must first meet certain standards to be authorised and to continue in business.</p> <p>You can search <a href="http://registers.centralbank.ie/" target="_blank" title="This link will open in a new tab or window">our registers</a> to get a list of providers who are operating in Ireland and authorised by the Central Bank. This does not include firms operating cross border, who are authorised in other countries. You can check the registers of the countries these firms are authorised in (this information should be included on the firms’ website or marketing information).</p> <p>The Central Bank also issues <a href="https://www.centralbank.ie/news-media" title="warning notices">warning notices</a> on firms who are not authorised to provide such services, and more <a href="https://www.centralbank.ie/consumer-hub/explainers/how-can-i-avoid-a-financial-services-scam" title="up-to-date information on scams">up-to-date information on scams</a>.</p> <p>The <a href="https://www.ccpc.ie/" target="_blank" title="This link will open in a new tab or window">Competition and Consumer Protection Commission</a> has also published information on how to choose an advisor and the types of services and investments they can provide. Doing your research first, including reading any material from your provider, can help you make a more informed decision.</p> <p><strong>See also:</strong></p> <ul> <li><strong></strong><a href="https://www.centralbank.ie/consumer-hub/explainers/what-compensation-schemes-protect-consumers-of-authorised-firms" title="Explainer - What compensation schemes protect consumers of authorised firms?">Explainer - What compensation schemes protect consumers of authorised firms?</a></li> </ul> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-How-can-I-make-a-complaint-about-my-financial-adviser-or-investment-a803effd-54f2-4ad7-a90f-8d552df380fd"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#How-can-I-make-a-complaint-about-my-financial-adviser-or-investment-a803effd-54f2-4ad7-a90f-8d552df380fd" aria-expanded="false" aria-controls="How-can-I-make-a-complaint-about-my-financial-adviser-or-investment-a803effd-54f2-4ad7-a90f-8d552df380fd"> <strong class="gtm-expanding">How can I make a complaint about my financial adviser or investment?</strong> </a> </div> </div> <div id="How-can-I-make-a-complaint-about-my-financial-adviser-or-investment-a803effd-54f2-4ad7-a90f-8d552df380fd" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-How-can-I-make-a-complaint-about-my-financial-adviser-or-investment-a803effd-54f2-4ad7-a90f-8d552df380fd" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>The Central Bank does not settle individual disputes about financial services or advice. You must first make a formal complaint to your provider directly.</p> <p>If you are not happy with the response and are still concerned about the financial advice you received, you can lodge a formal complaint to the <a href="https://www.fspo.ie/" target="_blank" title="This link will open in a new tab or window">Financial Services and Pensions Ombudsman</a>. (If your provider is authorised and regulated outside Ireland, you will need to complain to the relevant Ombudsman/authority in their home country).</p> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Do-I-have-to-pay-costs-or-charges-when-I-invest-my-money--1d25fd07-4fc1-466a-aa61-627a8b0fd90f"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Do-I-have-to-pay-costs-or-charges-when-I-invest-my-money--1d25fd07-4fc1-466a-aa61-627a8b0fd90f" aria-expanded="false" aria-controls="Do-I-have-to-pay-costs-or-charges-when-I-invest-my-money--1d25fd07-4fc1-466a-aa61-627a8b0fd90f"> <strong class="gtm-expanding">Do I have to pay costs or charges when I invest my money? </strong> </a> </div> </div> <div id="Do-I-have-to-pay-costs-or-charges-when-I-invest-my-money--1d25fd07-4fc1-466a-aa61-627a8b0fd90f" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Do-I-have-to-pay-costs-or-charges-when-I-invest-my-money--1d25fd07-4fc1-466a-aa61-627a8b0fd90f" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>In some cases, you may have to pay some costs or additional charges to invest your money. Usually these fees are for the services provided by an investment firm or administration fees. This can be a once off cost or a cost you pay on an ongoing basis e.g. annually. </p> <p>When you decide to invest your money firms are required to provide you with clear information on what you are paying for and how much it will cost you. This will help you to make a more informed decision about how much you can expect to pay.</p> <p>Firms must also give you information on costs and charges annually. But you can also request an itemised breakdown of fees from the investment firm at any stage of your investment. </p> </div> </div> </div> <a name="section2" data-sf-ec-immutable=""><h2 id="Long-term investment products sold by insurance firms">Long-term investment products sold by insurance firms</h2></a> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Can-life-insurers-provide-investment-products-I-thought-they-only-provide-protection-products--f2021717-7cdc-40fb-a75b-8359c5726773"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Can-life-insurers-provide-investment-products-I-thought-they-only-provide-protection-products--f2021717-7cdc-40fb-a75b-8359c5726773" aria-expanded="false" aria-controls="Can-life-insurers-provide-investment-products-I-thought-they-only-provide-protection-products--f2021717-7cdc-40fb-a75b-8359c5726773"> <strong class="gtm-expanding">Can life insurers provide investment products, I thought they only provide protection products? </strong> </a> </div> </div> <div id="Can-life-insurers-provide-investment-products-I-thought-they-only-provide-protection-products--f2021717-7cdc-40fb-a75b-8359c5726773" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Can-life-insurers-provide-investment-products-I-thought-they-only-provide-protection-products--f2021717-7cdc-40fb-a75b-8359c5726773" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>Yes, life insurance firms provide investment and pension products together with protection products.  </p> <p>If you have such a product, you may have purchased it directly from an insurer, from a retail intermediary/broker or from a bank. There is no difference in the consumer protection requirements that apply whether you buy the product directly from an insurer, or through an intermediary/broker or a bank. </p> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-My-investment-product-was-suitable-for-me-when-I-originally-bought-it-but-my-circumstances-have-changed-Is-there-anything-I-can-do--8f8057fc-0c77-4ce3-9130-f7b2c65a5cd9"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#My-investment-product-was-suitable-for-me-when-I-originally-bought-it-but-my-circumstances-have-changed-Is-there-anything-I-can-do--8f8057fc-0c77-4ce3-9130-f7b2c65a5cd9" aria-expanded="false" aria-controls="My-investment-product-was-suitable-for-me-when-I-originally-bought-it-but-my-circumstances-have-changed-Is-there-anything-I-can-do--8f8057fc-0c77-4ce3-9130-f7b2c65a5cd9"> <strong class="gtm-expanding">My investment product was suitable for me when I originally bought it but my circumstances have changed. Is there anything I can do? </strong> </a> </div> </div> <div id="My-investment-product-was-suitable-for-me-when-I-originally-bought-it-but-my-circumstances-have-changed-Is-there-anything-I-can-do--8f8057fc-0c77-4ce3-9130-f7b2c65a5cd9" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-My-investment-product-was-suitable-for-me-when-I-originally-bought-it-but-my-circumstances-have-changed-Is-there-anything-I-can-do--8f8057fc-0c77-4ce3-9130-f7b2c65a5cd9" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>Yes. If you have a long-term investment product you should seek to have it regularly reviewed by your financial services provider, to ensure the product is still suitable for your needs and any change in your circumstances.</p> <p>With any long-term product, there is a chance that it may become less suitable for you over time. This can be because: </p> <ul> <li>There have been changes in your personal circumstances (e.g. getting closer to retirement, changes in your employment etc.)</li> <li>An alternative product has become available that better suits your needs, or there is an equivalent product available that has lower charges or better fund options</li> <li>There are changes in the wider investment and economic environment.</li> </ul> Insurers are required to communicate with their consumers to set out the benefits of regular reviews and encourage them to engage with their financial services provider in respect of their long-term policies.  Link to Dear CEO letter </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-How-often-should-my-investment-product-be-reviewed--af1af15a-03db-4d0b-9521-ed5193a306b2"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#How-often-should-my-investment-product-be-reviewed--af1af15a-03db-4d0b-9521-ed5193a306b2" aria-expanded="false" aria-controls="How-often-should-my-investment-product-be-reviewed--af1af15a-03db-4d0b-9521-ed5193a306b2"> <strong class="gtm-expanding">How often should my investment product be reviewed? </strong> </a> </div> </div> <div id="How-often-should-my-investment-product-be-reviewed--af1af15a-03db-4d0b-9521-ed5193a306b2" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-How-often-should-my-investment-product-be-reviewed--af1af15a-03db-4d0b-9521-ed5193a306b2" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>There is no set time periods for performing reviews but many firms offer yearly reviews.</p> <p>The Central Bank has told all insurance firms that provide these products that they must include a message to consumers in the annual statement sent to you which includes information on: </p> <ul> <li>The importance of ensuring the ongoing suitability of your policy</li> <li>What you can do and who you can contact to have the suitability of your product assessed.</li> </ul> <p>The Central Bank encourages all consumers to engage in this process, as even if you do not think your circumstances have changed, there may be more suitable product or fund options available. </p> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-The-retail-intermediary-I-bought-my-investment-product-from-has-ceased-trading--what-happens-to-my-product--b4853a75-487d-42c9-9e61-90026e5647de"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#The-retail-intermediary-I-bought-my-investment-product-from-has-ceased-trading--what-happens-to-my-product--b4853a75-487d-42c9-9e61-90026e5647de" aria-expanded="false" aria-controls="The-retail-intermediary-I-bought-my-investment-product-from-has-ceased-trading--what-happens-to-my-product--b4853a75-487d-42c9-9e61-90026e5647de"> <strong class="gtm-expanding">The retail intermediary I bought my investment product from has ceased trading – what happens to my product? </strong> </a> </div> </div> <div id="The-retail-intermediary-I-bought-my-investment-product-from-has-ceased-trading--what-happens-to-my-product--b4853a75-487d-42c9-9e61-90026e5647de" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-The-retail-intermediary-I-bought-my-investment-product-from-has-ceased-trading--what-happens-to-my-product--b4853a75-487d-42c9-9e61-90026e5647de" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>Long-term investment products can be sold directly by the insurance company that produces the product, or they can be sold by an intermediary/broker or a bank. There is no difference in the consumer protection requirements that apply whether you buy the product directly or through an intermediary.</p> <p>If you bought an investment product from an intermediary that has since ceased business, the insurance firm that developed the investment product is still responsible for providing you with customer service and support.</p> <p>Generally, the approach taken by each insurer is that you will be informed of the change of agency and provided with the relevant contact and customer support details. You will also be advised that you may appoint a new intermediary, should you wish to do so.</p> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Where-can-I-get-information-about-my-investment-product-2a55019d-062f-429b-a1f0-d80f021a5859"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Where-can-I-get-information-about-my-investment-product-2a55019d-062f-429b-a1f0-d80f021a5859" aria-expanded="false" aria-controls="Where-can-I-get-information-about-my-investment-product-2a55019d-062f-429b-a1f0-d80f021a5859"> <strong class="gtm-expanding">Where can I get information about my investment product?</strong> </a> </div> </div> <div id="Where-can-I-get-information-about-my-investment-product-2a55019d-062f-429b-a1f0-d80f021a5859" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Where-can-I-get-information-about-my-investment-product-2a55019d-062f-429b-a1f0-d80f021a5859" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>The firm that sold you the investment product should provide you with customer support contact details. Your annual statement, that you must be sent every year, should also include details of whom to contact with any questions, and details in relation to your suitability review.</p> <p>The Central Bank also expects insurance firms to have a dedicated “fund centre” on their website, which provides information on existing funds - such as factsheets, fund prices and performance.</p> <p>Insurance firms should also have “‘consumer portals” which allow consumers access to up-to-date information on their investment – such as the current value, the fund(s) invested in and policy related documentation. Alternatively, consumers can obtain the same information over the phone, or from their financial adviser. </p> </div> </div> </div> <a name="section3" data-sf-ec-immutable=""><h2 id="Unregulated investments">Unregulated investments</h2></a> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-What-is-an-unregulated-investment--9f94608a-e1fa-43b7-8bbb-ee715e687732"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#What-is-an-unregulated-investment--9f94608a-e1fa-43b7-8bbb-ee715e687732" aria-expanded="false" aria-controls="What-is-an-unregulated-investment--9f94608a-e1fa-43b7-8bbb-ee715e687732"> <strong class="gtm-expanding">What is an unregulated investment? </strong> </a> </div> </div> <div id="What-is-an-unregulated-investment--9f94608a-e1fa-43b7-8bbb-ee715e687732" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-What-is-an-unregulated-investment--9f94608a-e1fa-43b7-8bbb-ee715e687732" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>An unregulated investment product is one that does not fall under the supervision of the Central Bank. This means it does not have many of the investor protections that apply to regulated investment products, including access to <a href="https://www.ccpc.ie/consumers/money/investing/ics-protection/" title="This link will open in a new window" target="_blank">the investor compensation scheme</a>. </p> <p>If you are thinking about investing in an unregulated investment product, you are encouraged to get professional advice to ensure you fully understand the product and the risks involved.</p> <p>Firms providing unregulated products or services are typically not authorised by the Central Bank, unless the firm also offers regulated products or services.</p> <p>This means even though the firm itself may be regulated by the Central Bank, not every product they sell may be covered by regulation. It is important firms clearly distinguish their regulated business from any unregulated products they provide.</p> <p>If you deal with a firm that is regulated by the Central Bank they are obliged to explain to you whether the product they are providing or recommending to you is regulated or not. You should ask them to explain this and outline what protections apply if things go wrong.</p> <p>If a firm sells an unregulated product or service, they should ensure you understand the implications of purchasing an unregulated product. This should include explaining that the investor protections that apply for regulated investments, such as access to compensation schemes, client asset protections, and recourse to the Financial Services and Pensions Ombudsman, do not apply to unregulated investments.</p> <p>The names of some firms may be similar for their regulated and unregulated business, so it is important to confirm which firm you are dealing with, and its regulated status, before investing. </p> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-How-can-I-find-out-if-a-product-is-regulated-or-not--c608ab66-50ef-4a77-bc57-d7a3cbb246a6"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#How-can-I-find-out-if-a-product-is-regulated-or-not--c608ab66-50ef-4a77-bc57-d7a3cbb246a6" aria-expanded="false" aria-controls="How-can-I-find-out-if-a-product-is-regulated-or-not--c608ab66-50ef-4a77-bc57-d7a3cbb246a6"> <strong class="gtm-expanding">How can I find out if a product is regulated or not? </strong> </a> </div> </div> <div id="How-can-I-find-out-if-a-product-is-regulated-or-not--c608ab66-50ef-4a77-bc57-d7a3cbb246a6" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-How-can-I-find-out-if-a-product-is-regulated-or-not--c608ab66-50ef-4a77-bc57-d7a3cbb246a6" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> If you deal with a firm that is regulated by the Central Bank they are obliged to explain to you whether the product they are providing or recommending to you is regulated or not. You should ask them to explain this and the protections that apply if things go wrong. e.g.You should also check any documentation explaining the product. If the product is regulated, this will be clearly stated on the documentation.  </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-What-is-required-of-firms-when-selling-unregulated-investments--1d2d3aa1-0289-42e0-b56c-9150340f2fe5"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#What-is-required-of-firms-when-selling-unregulated-investments--1d2d3aa1-0289-42e0-b56c-9150340f2fe5" aria-expanded="false" aria-controls="What-is-required-of-firms-when-selling-unregulated-investments--1d2d3aa1-0289-42e0-b56c-9150340f2fe5"> <strong class="gtm-expanding">What is required of firms when selling unregulated investments? </strong> </a> </div> </div> <div id="What-is-required-of-firms-when-selling-unregulated-investments--1d2d3aa1-0289-42e0-b56c-9150340f2fe5" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-What-is-required-of-firms-when-selling-unregulated-investments--1d2d3aa1-0289-42e0-b56c-9150340f2fe5" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>The Central Bank does not regulate the provision of unregulated investments. Nevertheless, the Central Bank has provided guidance to the investment firms it regulates on what we expect when they sell unregulated products.</p> <p>In summary, we expect firms to:</p> <ul> <li>Ensure they act fairly, professionally and in accordance with the best interests of their clients at all times</li> <li>Take all necessary measures to ensure clients are fully aware of the regulatory status of the product/service they are receiving</li> <li>Ensure that the terminology used does not imply the product and/or service is regulated or protected in any way where this is not the case</li> <li>Clearly disclose to clients when regulatory protections do not apply to the product or service provide</li> <li>Ensure the investment firm’s regulatory status is not used as a promotional tool</li> <li>Ensure all information on the firm’s website related to unregulated activities is clearly distinguished from regulated activities.</li> </ul> <p>The <a href="https://www.esma.europa.eu/" title="This link will open in a new window" target="_blank">European Securities and Markets Authority</a> has also published <a href="https://www.esma.europa.eu/press-news/esma-news/esma-highlights-risks-arising-investment-firms-providing-unregulated-products" title="This link will open in a new window" target="_blank">information highlighting the risks arising from unregulated products</a>.</p> <p>We would encourage all investors to get professional advice to ensure they fully understand the investment product and the risks involved before investing in any unregulated product.</p> <p>Even though the firm itself may be regulated by the Central Bank, not every product they sell may be covered by regulation. It is important that firms clearly distinguish their regulated business from any unregulated products they may provide.</p> <p>If you deal with a firm that is regulated by the Central Bank they are obliged to explain to you whether the product they are providing or recommending to you is regulated or not, and you should ask them to explain this and the protections that apply if things go wrong.</p> <p>If a firm is selling an unregulated product or service, they should ensure you understand the implications of purchasing an unregulated product. This should include explaining that the investor protections that apply for regulated investments, such as access to compensation schemes, client asset protections, and recourse to the ombudsman, do not apply to unregulated investments.</p> <p>The names of some firms may be similar for their regulated and unregulated business, so it is important to confirm which firm you are dealing with, and its regulated status, before investing.</p> <p>These investor protections are particularly important where a product does not perform as expected, and/or the investor may want to make a complaint. It is important that consumers understand, and are comfortable with, the level of investor protection that applies, before purchasing an unregulated investment product.</p> </div> </div> </div> <a name="section4" data-sf-ec-immutable=""><h2 id="Structured Retail Products">Structured Retail Products</h2></a> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-What-is-a-Structured-Retail-Product-SRP--0ee368d6-8b10-4acc-b9bb-90a37c04a03b"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#What-is-a-Structured-Retail-Product-SRP--0ee368d6-8b10-4acc-b9bb-90a37c04a03b" aria-expanded="false" aria-controls="What-is-a-Structured-Retail-Product-SRP--0ee368d6-8b10-4acc-b9bb-90a37c04a03b"> <strong class="gtm-expanding">What is a Structured Retail Product (SRP)? </strong> </a> </div> </div> <div id="What-is-a-Structured-Retail-Product-SRP--0ee368d6-8b10-4acc-b9bb-90a37c04a03b" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-What-is-a-Structured-Retail-Product-SRP--0ee368d6-8b10-4acc-b9bb-90a37c04a03b" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>Structured retail products (SRPs) are a type of fixed-term investment where you invest your money for a set period of time. They are sometimes also referred to as “tracker bonds” or “capital guaranteed products”.</p> <p>Structured products are pre-packaged by an investment company and can offer a choice of investments across a wide range of asset types (e.g. deposits, property, equities, bonds or alternative classes like gold, copper etc.).</p> <p>These products are typically fully or partially capital protected. Some of these products may be described as having conditional capital protection – these are complex capital at risk products, which means you could lose some or all of the money you have invested.</p> <p>As the complexity increases, it becomes more difficult to understand the product. It also means there is a greater risk you could lose some or all of your money.</p> <p>We would encourage all investors to get professional advice to ensure they fully understand the investment product and the risks involved before investing in any structured retail product.</p> <p>The CCPC has also <a href="https://www.ccpc.ie/consumers/money/investing/types-of-investment/#structured" title="This link will open in a new window" target="_blank">published information on structured retail products</a>. </p> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Are-they-suitable-for-all-investors--3aee32e9-8e89-43c0-a340-711549c7a577"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Are-they-suitable-for-all-investors--3aee32e9-8e89-43c0-a340-711549c7a577" aria-expanded="false" aria-controls="Are-they-suitable-for-all-investors--3aee32e9-8e89-43c0-a340-711549c7a577"> <strong class="gtm-expanding">Are they suitable for all investors? </strong> </a> </div> </div> <div id="Are-they-suitable-for-all-investors--3aee32e9-8e89-43c0-a340-711549c7a577" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Are-they-suitable-for-all-investors--3aee32e9-8e89-43c0-a340-711549c7a577" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>SRPs are complex products, and while they may be suitable for some experienced investors, many are not suitable for investors with a low risk appetite or who are inexperienced in financial markets.</p> <p>Where these products are sold to investors, they should be sold with proper investment advice, typically provided by Retail Intermediaries (i.e. brokers).</p> <p>This includes an assessment of the client’s individual circumstances (knowledge/experience, risk appetite, financial situation) and a determination on whether the product is suitable for them. You must also be provided with detailed risk disclosures/warnings in the product brochure and investor documentation.</p> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-What-are-firms-required-to-do-before-I-invest-in-a-structured-retail-product--8b679298-3ea9-49a4-807f-a3fc74babe7c"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#What-are-firms-required-to-do-before-I-invest-in-a-structured-retail-product--8b679298-3ea9-49a4-807f-a3fc74babe7c" aria-expanded="false" aria-controls="What-are-firms-required-to-do-before-I-invest-in-a-structured-retail-product--8b679298-3ea9-49a4-807f-a3fc74babe7c"> <strong class="gtm-expanding">What are firms required to do before I invest in a structured retail product? </strong> </a> </div> </div> <div id="What-are-firms-required-to-do-before-I-invest-in-a-structured-retail-product--8b679298-3ea9-49a4-807f-a3fc74babe7c" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-What-are-firms-required-to-do-before-I-invest-in-a-structured-retail-product--8b679298-3ea9-49a4-807f-a3fc74babe7c" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>The Central Bank expects firms to adhere to high standards of investor protection, acting in the best interests of investors at all times. </p> <p>When providing investment advice on structured retail products, firms must complete a suitability assessment, which considers the nature and complexity of the product and whether it is suitable for you. Firms must ensure that the product is in your best interests and that you fully understand the product.</p> <p>Clear “capital at risk” warnings must also be included in all marketing communications and advertising of the product.</p> <p>Firms must also disclose all relevant information in a document known as the Key Information Document (KID). The KID is an important document that must be provided to you before you invest in a structured retail product.</p> <p>The KID is designed to help you to understand the risks, costs, potential gains and losses in a product. It compares products from different providers in a standardised format. The KID should be provided in addition to any marketing materials or brochures.</p> <p>KIDs should include the following information:</p> <ul> <li>The name of the product and the provider</li> <li>The types of investors the product is aimed at</li> <li>The risk and reward profile of the product, which includes the possible maximum amount of capital you could lose from the investment, the performance examples/scenarios of the product etc.</li> <li>The costs of investing in the product. For example, the charges you pay for the cost of running the fund as well as any entry and exit charges</li> <li>Information about how and where you can make a complaint in case there is a problem with the product or the person producing, advising on or selling the product.</li> </ul> <p>The KID is an important document and it is important to consider the information included in this document in addition to the investment firm’s product brochure.</p> </div> </div> </div> <a name="section7" data-sf-ec-immutable=""><h2 id="Advertising of investment products">Advertising of investment products</h2></a> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Are-there-any-rules-for-advertising-investment-products-af3d1bdd-9834-4a5d-935f-606991c3b7b8"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Are-there-any-rules-for-advertising-investment-products-af3d1bdd-9834-4a5d-935f-606991c3b7b8" aria-expanded="false" aria-controls="Are-there-any-rules-for-advertising-investment-products-af3d1bdd-9834-4a5d-935f-606991c3b7b8"> <strong class="gtm-expanding">Are there any rules for advertising investment products?</strong> </a> </div> </div> <div id="Are-there-any-rules-for-advertising-investment-products-af3d1bdd-9834-4a5d-935f-606991c3b7b8" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Are-there-any-rules-for-advertising-investment-products-af3d1bdd-9834-4a5d-935f-606991c3b7b8" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>There are rules about how investment products can be marketed or advertised to consumers. </p> <p>When a firm is using marketing and advertising material, it should: </p> <ul> <li>Be clearly identifiable as a marketing communication or advertisement</li> <li>The content should be fair, clear and not misleading, with information presented in a way that is likely to be understood by a consumer</li> <li>Risks and benefits much be presented in a balanced manner - for example in the same font size and colour, regardless of the means of communication being used</li> <li>Plain language should be used and the use of financial jargon and abbreviations should be avoided</li> <li>Firms must ensure that information is up to date, including on social media platforms</li> <li>Information on past performance must be accompanied by a prominent warning stating that it is not an indication of future results</li> <li>Risk warnings must be displayed in a prominent manner, including on social media platforms</li> <li>Content should relate to the underlying subject; unrelated content should not be included in an attempt to influence investor behaviour.</li> </ul> </div> </div> </div> <a name="section5" data-sf-ec-immutable=""><h2>Cryptoassets and cryptocurrencies</h2></a> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-What-are-cryptocurrencies-737158b8-20b6-4c5a-a8cd-d326f396358f"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#What-are-cryptocurrencies-737158b8-20b6-4c5a-a8cd-d326f396358f" aria-expanded="false" aria-controls="What-are-cryptocurrencies-737158b8-20b6-4c5a-a8cd-d326f396358f"> <strong class="gtm-expanding">What are cryptocurrencies?</strong> </a> </div> </div> <div id="What-are-cryptocurrencies-737158b8-20b6-4c5a-a8cd-d326f396358f" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-What-are-cryptocurrencies-737158b8-20b6-4c5a-a8cd-d326f396358f" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>Cryptocurrencies - also known as digital currencies or virtual currencies - are a form of digital money. They allow payments to be made electronically and function in a similar way to standard currencies that use physical cash. Find out more about <a href="/consumer-hub/explainers/what-are-cryptocurrencies-like-bitcoin" title="cryptocurrencies with our explainer">cryptocurrencies with our explainer</a>. </p> </div> </div> </div> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Are-cryptoassets-and-cryptocurrencies-regulated-by-the-Central-Bank--6a27486f-a43f-4805-a5e5-8a8e52e644f7"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Are-cryptoassets-and-cryptocurrencies-regulated-by-the-Central-Bank--6a27486f-a43f-4805-a5e5-8a8e52e644f7" aria-expanded="false" aria-controls="Are-cryptoassets-and-cryptocurrencies-regulated-by-the-Central-Bank--6a27486f-a43f-4805-a5e5-8a8e52e644f7"> <strong class="gtm-expanding">Are cryptoassets and cryptocurrencies regulated by the Central Bank? </strong> </a> </div> </div> <div id="Are-cryptoassets-and-cryptocurrencies-regulated-by-the-Central-Bank--6a27486f-a43f-4805-a5e5-8a8e52e644f7" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Are-cryptoassets-and-cryptocurrencies-regulated-by-the-Central-Bank--6a27486f-a43f-4805-a5e5-8a8e52e644f7" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>No, they are not regulated financial products.</p> <p>Cryptoassets are highly risky and speculative, and may not be suitable for retail customers. It is important to be aware of the risks of misleading advertisements, particularly on social media, where influencers are being paid to advertise crypto assets.</p> <p>Before you buy cryptoassets, you need to consider if you can afford to lose all of the money you invest. Do the promised fast or high returns seem too good to be true? If things go wrong, you do not have the protections you would have if you invested in a regulated product.</p> <p>Find out more about <a href="https://www.esma.europa.eu/sites/default/files/library/esa_2022_15_joint_esas_warning_on_crypto-assets.pdf" title="This link will open in a new window" target="_blank">the risks of investing in cryptoassets</a>. </p> </div> </div> </div> <a name="section6"><h2 id="Contracts for Difference (CFDs)">Contracts for Difference (CFDs)</h2></a> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Ive-heard-about-contracts-for-difference-CFDs-How-do-I-know-if-they-are-a-viable-option-for-me-db3e0825-cf0c-4c7d-8cea-f4010b675d94"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Ive-heard-about-contracts-for-difference-CFDs-How-do-I-know-if-they-are-a-viable-option-for-me-db3e0825-cf0c-4c7d-8cea-f4010b675d94" aria-expanded="false" aria-controls="Ive-heard-about-contracts-for-difference-CFDs-How-do-I-know-if-they-are-a-viable-option-for-me-db3e0825-cf0c-4c7d-8cea-f4010b675d94"> <strong class="gtm-expanding">I've heard about contracts for difference (CFDs). How do I know if they are a viable option for me?</strong> </a> </div> </div> <div id="Ive-heard-about-contracts-for-difference-CFDs-How-do-I-know-if-they-are-a-viable-option-for-me-db3e0825-cf0c-4c7d-8cea-f4010b675d94" class="panel-collapse collapse " role="tabpanel" aria-labelledby="heading-Ive-heard-about-contracts-for-difference-CFDs-How-do-I-know-if-they-are-a-viable-option-for-me-db3e0825-cf0c-4c7d-8cea-f4010b675d94" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <p>CFDs are complex, leveraged, derivative instruments, which enable investors to speculate on the short-term price movements of an underlying reference asset.</p> <p>We previously <a href="https://www.centralbank.ie/news-media/press-releases/central-bank-bans-sale-binary-options-restricts-sale-contracts-for-difference">released a statement</a> highlighting these types of products, addressing the risks for retail clients investing in such complex and risky products and the new protections we introduced for investors in CFDs.</p> <p>These included:</p> <ul> <li>Limits on excessive levels of leverage so that retail investors cannot lose more money than they put into their CFD account</li> <li>A prohibition on the use of incentives by a CFD provider</li> <li>A standardised risk warning on these short-term, speculative products.</li> </ul> </div> </div> </div> <p><strong>See also:</strong></p><ul><li><a href="https://www.ccpc.ie/consumers/money/getting-financial-advice/" target="_blank" title="This link will open in a new window" data-sf-ec-immutable="">Getting Financial Advice – Competition and Consumer Protection Commission</a></li></ul><p></p> </article> </div> <div id="MainContentPlaceholder_T225F410C003_Col01" class="sf_colsIn col-sm-4 rhs" data-placeholder-label="General Righ hand side"> <nav aria-labelledby="rhsheadingtwo"> <h3 class="sidebar-heading-icon icon-bars hidden-xs" id="rhsheadingtwo"> In this Section </h3> <div class="right-sidebar hidden-xs"> <ul 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