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 Review of the Consumer Protection Code - The Code sets out requirements that regulated entities must comply with when dealing with consumers. The purpose of the Code is to ensure the same level of protection for consumers regardless of the type of financial services provider they choose. It requires regulated entities to act in consumers’ best interests by ensuring that they know and understand the consumer’s needs, sell them products and services that are suitable and provide them with appropriate information to enable them to make an informed choice. The Code also requires firms to have in place an effective complaints handling procedure and sets out a timeframe within which regulated entities must deal with complaints from consumers. The Revised CodeWe have now reviewed the Code to identify areas where the existing provisions should be strengthened to provide increased consumer protection, where provisions need to be amended to provide clarification, where new provisions need to be included and where provisions need to be disapplied because they are no longer appropriate.