Wednesday, 17 July 2013

Questions (81)

Andrew Doyle

Question:

81. Deputy Andrew Doyle asked the Minister for Finance further to Parliamentary Questions No. 169 of 28 May 2013, and 72 on 11 July 2013, if he will detail the representations received by the Central Bank of Ireland from industry stakeholders and organisation regarding the Markets in Financial Instruments Directive regarding the expansion or watering down of the Directive; if he will provide a full list of the persons and organisations from whom these representations came; the number of meetings the Central Bank of Ireland have had with stakeholders and interested parties regarding MiFID; with whom they were held and the date on which they took place; and if he will make a statement on the matter. [35923/13]

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Written answers (Question to Finance)

As an independent body, the central bank does not provide me with detailed reports on their consultations with industry on any matter and I do not oversee these processes. However, I would draw to your attention that MiFID II is not yet agreed and therefore any consultations the Central Bank might have on matters placed within their discretion by MiFID II, when agreed, have not taken place. I understand from the Central Bank that it adopts a general policy of transparency in relation to consultations and, therefore, in due course it can be expected to publish responses received in relation to any matter arising from MiFID II on which it initiates a public consultation. In addition, senior representatives are accountable to committees of this house in relation to such matters.