Dáil Éireann Debate, Tuesday - 17 May 2011
101 Deputy Michael McGrath asked the Minister for Finance if businesses which offer debt management services to persons are required to be licensed and regulated by the Financial Regulator; and if he will make a statement on the matter. [11278/11]
Amharc ar fhreagraSome financial service providers, currently authorised by the Central Bank provide debt advice to consumers e.g. mortgage brokers. Consumers can confirm whether or not a financial service provider is authorised by checking the Register of Financial Service Providers on the Central Bank's website. However, there are also companies which offer debt advice and debt counselling services which are not registered or authorised by the Central Bank.
In the context of future legislation on financial regulation, I am examining the question of licensing companies that offer debt management services.
