Vol. 533 No. 6
78 Proinsias De Rossa asked the Minister for Finance when he expects the new structures for financial services regulation announced on 20 February 2001 to be operational; and if he will make a statement on the matter. [9731/01]
As the Deputy will be aware, the Tánaiste and I announced on 20 February that the Government had decided to establish the Irish financial services regulatory authority, IFSRA, within the new structure of the Central Bank of Ireland and financial services authority. I have recently appointed A & L Goodbody Solicitors as legal adviser to assist in the preparation of heads of legislation for submission to Government, prior to drafting of legislation by the office of the Parliamentary Counsel to the Government. It is the intention that legislative proposals to restructure financial sector regulation be published this September and that the new body be formally established in January 2002. I hope to appoint the interim board of the IFSRA soon.
