Dáil Éireann Debate, Tuesday - 24 June 2014
137. Deputy John Browne asked the Minister for Finance if Setanta Insurance, or any directly or indirectly related body, ever applied for a licence in Ireland or was ever turned down by the Central Bank of Ireland; and if he will make a statement on the matter. [26662/14]
Amharc ar fhreagraIn my role as the Minister for Finance I have responsibility for the development of the legal framework governing financial regulation. The day to day responsibility for the supervision of financial institutions is a matter for the Central Bank of Ireland, which is statutorily independent in the exercise of its regulatory functions.
I have contacted the Central Bank and they have informed me that they do not provide information on firms which apply for authorisation. Once a firm is authorised, it is added to the Central Bank's public registers, which are available on the Registers page of the Central Bank's website at http://registers.centralbank.ie/. If it withdraws its application for one reason or another, or if it is not authorised the Bank does not provide any information. Additionally, section 33AK of the Central Bank Act 1942 restricts the ability to disclose certain information which the Central Bank becomes aware of while exercising its functions.
