Dáil Éireann Debate, Wednesday - 31 March 2021
80. Deputy Mairéad Farrell asked the Minister for Finance if he has had engagement with the Central Bank regarding unregulated loan notes issued by a company (details supplied) between 2012 and 2019 and administered by another company; and if he will make a statement on the matter. [17185/21]
View answerI am aware of the matter that the Deputy has raised, and my officials will continue to monitor the situation.
As the House knows, the Central Bank of Ireland is the independent regulator for financial services and as such it determines what measures or actions need to be taken in relation to any potential or actual wrongdoing by regulated financial service providers. I am informed by my officials that the Central Bank of Ireland cannot comment on investigations, and this extends to confirming whether an issue or firm is the subject of an investigation.
I would also refer the Deputy to a recent PQ response I have provided on this matter, which sets out further details on the legislative framework pertaining to the provision of financial services in relation to unregulated financial products by regulated financial service providers, as well as options available to consumers that are dissatisfied with such services. This PQ response can be accessed at: https://www.oireachtas.ie/en/debates/question/2021-03-24/487/#pq_487.
