M. J. Nolan
Question:37 Mr. Nolan asked the Minister for Finance the proposals, if any, he has to regulate the transactions of financial intermediaries. [4394/95]
Written Answers. - Regulation of Financial Intermediaries.
My Department, with the assistance of the Central Bank of Ireland and the Department of Enterprise and Employment, has produced a scheme of a Bill for the regulation of investment intermediaries.This has been approved by Government for transmission to the Office of the Attorney General for drafting. Taken together with the Stock Exchange Bill, 1994, the proposed Bill will provide for a system of regulation which will meet the requirements of the EU Investment Services and Capital Adequacy Directives. In view of the importance of ensuring proper regulation of investment intermediaries and in view of the 1 July 1995 deadline for transposition of the Investment Services Directive, the Bill will be introduced in the House during the next session with a view to its enactment before the end of June.