Dáil Éireann Debate, Tuesday - 19 July 2016
191. Deputy Michael McGrath asked the Minister for Finance the number of expressions of interest the Central Bank has received from financial institutions seeking to relocate their main centre of operations here since the United Kingdom referendum result; and if he will make a statement on the matter. [22432/16]
View answerThe Central Bank has informed me that it cannot comment on authorisation applications or inquiries from individual firms.
In respect of firms or funds potentially seeking to locate in Ireland, the Central Bank Deputy Governor (Financial Regulation) said the Bank remains committed to providing a clear, open and transparent authorisation process while ensuring a rigorous assessment of the applicant against regulatory standards so as to continue to ensure a high, consistent level of consumer protection.
Prior to and since the referendum on the United Kingdom's membership of the European Union, the Bank has been in close contact with the firms it supervises, as well as the Irish Government, ECB-SSM and other EU institutions, and continues to monitor carefully developments in the financial markets and regulated financial services providers.
In addition, the Central Bank on 14 July hosted a roundtable discussion with representatives from my Department, Irish financial sector representatives and other stakeholders about the potential consequences for the sector following the outcome of the recent referendum. The purpose of the engagement was to allow stakeholders present their views on the impacts for the regulated financial sector.
