Dáil Éireann Debate, Thursday - 13 July 2017
143. Deputy Michael McGrath asked the Minister for Finance the number of firms found to be unauthorised by the Central Bank for the services they provided; if they were financial services providers, collective investment schemes, payment services agents, moneylenders or other types service; if the firms were credit-servicing firms; if the firms own or owned mortgage loans or credit agreements; and if he will make a statement on the matter. [33778/17]
View answer144. Deputy Michael McGrath asked the Minister for Finance the number of financial institutions found to be unauthorised by the Central Bank each year for the past six years; and if he will make a statement on the matter. [33779/17]
View answerI propose to take Questions Nos. 143 and 144 together.
I am informed by the Central Bank that it has found approximately 128 firms/individuals to be conducting unauthorised activities in the years 2011-2016 inclusive. These unauthorised firms have been the subject of Central Bank warning notices. 110 refer to unauthorised Investment Firms, 6 refer to unauthorised Credit Institutions, 6 are in relation to unauthorised Retail Credit Firms, 3 refer to unauthorised Debt Management Firms, 2 regarding unauthorised Insurance Intermediaries, and 1 refers to a firm conducting unauthorised Mortgage Intermediary services.
The following table provided by the Central Bank details the number of firms, broken down into firm type, found to be unauthorised each year.
|
Warning Notices |
Type of firms
|
||||||
|
Year |
Unauthorised Credit Institution/Banking Business |
Unauthorised Debt Management Firm |
Unauthorised Insurance Intermediary |
Unauthorised Investment Firm |
Unauthorised Mortgage Intermediary |
Unauthorised Retail Credit Firm/Money Lender |
Grand Total |
|
2011 |
9 |
9 |
|||||
|
2012 |
35 |
35 |
|||||
|
2013 |
3 |
20 |
1 |
1 |
25 |
||
|
2014 |
1 |
1 |
2 |
22 |
3 |
29 |
|
|
2015 |
2 |
1 |
8 |
11 |
|||
|
2016 |
1 |
16 |
2 |
19 |
|||
|
Grand Total |
6 |
3 |
2 |
110 |
1 |
6 |
128 |
