Vol. 573 No. 5
52 Mr. J. O'Keeffe asked the Minister for Finance if he has completed his assessment arrangements of the effect of the High Court judgment in July 2003 by which the receiver of a defaulting stockbroking firm was enabled to access client assets, thereby calling into question the security of electronic based shareholding; and if he will make a statement on the matter. [25676/03]
As I indicated on 30 September last in reply to a previous question from the Deputy, the matters arising in the case of the collapse of this stockbroking firm are complex and accordingly will require a wide-ranging assessment. The High Court ruling covered a number of issues. As some parts of that ruling have been appealed, it will not be possible to reach definitive conclusions in the matter for some time. In the meantime, the assessment at official level is being taken forward as expeditiously as possible by officials of my Department, in conjunction with representatives of the Irish Financial Services Regulatory Authority and the Investor Compensation Company Limited.
I can assure the Deputy that, where regulatory or legislative issues that can be dealt with quickly are identified, every effort will be made to progress these as speedily as possible.
