Dáil Éireann Debate, Thursday - 13 February 2014
84. Deputy Eoghan Murphy asked the Minister for Finance if it should be the practice of the Financial Regulator to publish the main decisions made by the office in a given year which are in the public interest. [7309/14]
View answerThe Central Bank is statutorily obliged to publish information on the main issues addressed during the year including information on how it carried out its regulatory and supervisory activities.
In accordance with Section 32L of the Central Bank Act 1942 (as amended), the Central Bank is required to prepare an Annual Performance Statement on its financial regulatory activities undertaken during the previous year within four months of the end of each financial year.
In accordance with Section 32K of the Central Bank Act 1942 (as amended), the Central Bank is required to prepare an Annual Report on its activities during the year within six months after the end of each financial year,
Both of these documents are laid before each House of the Oireachtas.
Furthermore, under Section 33BC of the Central Bank Act 1942 (as amended), the Central Bank must publish, subject to certain confidentiality requirements, the particulars of a prescribed contravention that is being or has been committed. The publication would normally include:
- the name of the regulated entity on whom a sanction has been imposed;
- details of the prescribed contravention(s) in respect of which the sanction has been imposed;
- details of the sanction imposed; and
- the grounds upon which the findings are based
In addition, the Central Bank publishes annually, in summary form, information on its actions under Part IIIC of the Central Bank Act 1942 (as amended).
