The particular institutions referred to by the Deputy in his question are subject to regulation, in accordance with the relevant statutory provisions, by the Financial Regulator. The Financial Regulator's principal responsibility involves the ongoing monitoring of financial institutions in order to ensure their solvency and compliance with all other regulatory requirements on an individual basis. Any complaints related to solvency, regulation generally, corporate governance and compliance with company law would, therefore, be the responsibility of the Financial Regulator. With regard to unresolved complaints from consumers about their individual dealings with financial service providers, statutory responsibility for dealing with such complaints rests with the Financial Services Ombudsman under the terms of the Central Bank and Financial Services Authority of Ireland Act 2004.
While a wide variety of matters may be brought to the attention of the Minister for Finance over a period of time, these are where appropriate referred for the attention of the relevant body. It is essential that both the regulatory process and the system for resolving the complaints of individual consumers against financial institutions should be wholly independent from the political process and determined by the relevant statutory authorities having regard to the merits of the individual case. The current legislative framework guarantees the independence of each of those functions. This independence will also be fully protected in the legislation which will reform the current structure of the Central Bank and Financial Services Authority of Ireland. The Deputy will be aware that both the Financial Regulator and the Financial Services Ombudsman produce annual reports which are laid before the Houses of the Oireachtas.