Dáil Éireann debate -
Wednesday, 23 Feb 2000

Vol. 515 No. 1

Written Answers. - Financial Sector Regulation.

Jan O'Sullivan

Question:

58 Ms O'Sullivan asked the Minister for Finance when he will bring proposals to Government for the establishment of a single regulatory authority for the financial institutions; and if he will make a statement on the matter. [5254/00]

Minister for Finance (Mr. McCreevy):

The report of the implementation advisory group on the establishment of a single regulatory authority for the financial services sector was finalised by the group on 19 May 1999 and submitted to myself and the Tánaiste on the following day. The report was published on 23 June 1999 in order to facilitate public consideration of the issues that are involved.

The report contains a considerable number of recommendations and these are being examined in both my Department and the Tánaiste's Department. When this examination is completed, the report will be brought to Government for decision.