Michael McGrath (Cork South Central, Fianna Fail)
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67. To ask the Minister for Finance the position regarding regulated entities sending unsolicited messages to firms and persons here and abroad regarding loan products they have; and if he will make a statement on the matter. [31862/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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I have been advised by the Central Bank that regulated entities providing financial services in Ireland are required to comply with the Consumer Protection Code 2012 (the Code). 

The Code applies to financial services providers authorised, registered or licensed by the Central Bank; and financial services providers authorised, registered or licensed in another EU or EEA Member State when providing services in this State on a branch or cross-border basis.

Provisions 3.37 – 3.45 in Chapter 3 of the Code relate to personal visits and telephone contact with consumers.

In relation to telephone contact, there are prescribed circumstances where telephone contact can be made and the Code distinguishes between existing customers of the firm and other consumers, including that the consumer has given their consent to being contacted in this way.  Telephone contact can only be made between 9am and 9pm Monday to Saturday, unless otherwise agreed with the consumer. The definition of "consumer" includes SME's with a turnover of less than €3 million or less. I understand that the Central Bank would not consider that a firm which sends a text message to a consumer outside of these hours would be in violation of this provision.

It should be noted that the obligation on a regulated entity to meet the requirements set out in Provisions 3.40 to 3.45 is without prejudice to any other obligations a regulated entity is subject to, including without limitation, under the Data Protection legislation and as stipulated in the European Communities (Electronic Communications Network and Services) (Privacy and Electronic Communication) Regulations 2011 (S.I. 336 of 2011). Regulation 13 of S.I. 336 of 2011 deals with unsolicited communications. Policy responsibility for this area lies with my colleague, the Minister for Communications, Climate Action and Environment.