Vol. 472 No. 3
33 Ms O'Donnell asked the Minister for Enterprise and Employment the proposals, if any, he has received from the Irish Brokers Association in relation to its self-regulatory role; and if he has satisfied himself with the efforts being made by the association to improve its policing mechanisms in the area of investment intermediaries. [23209/96]
The Irish Brokers Association has a self-regulatory role under both Part IV of the Insurance Act, 1989, and under Part IV of the Investment Intermediaries Act, 1955.
In the context of the review of regulation under the Investment Intermediaries Act, 1995, which I have previously referred to in the House, I have consulted with a number of interested parties. I have received an informal written submission from the IBA on the regulation of investment intermediaries, pending consideration of the matter by the IBA Governing Council. In addition, my officials have met with representatives of the IBA on a number of occasions as part of the review process. The policing mechanisms used by the IBA in relation to the regulation of investment intermediaries have been central to these discussions.
Pending the completion of my review, I am not in a position to express either satisfaction or dissatisfaction with the efforts being undertaken by the IBA to improve its policing mechanisms in the area of investment intermediaries.
