Financial Regulator

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Financial Regulator
Founded	2003
Headquarters	Dublin, Ireland
Key People	Patrick Neary, Chief Executive
Web site	www.financialregulator.ie/

The Irish Financial Regulator ^[1] is responsible for the regulation of all financial services firms in Ireland and for protecting the consumers of those firms.

Organization and Purpose

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The Financial Regulator's mandate is to help consumers make informed decisions on their financial affairs in a safe and fair market, and to foster sound, growing and solvent financial institutions that give consumers confidence that their deposits and investments are secure. The Financial Regulator is a distinct component of the Central Bank & Financial Services Authority of Ireland, with clearly defined regulatory responsibilities. These cover all Irish financial institutions including those previously regulated by the Central Bank, Department of Enterprise, Trade and Employment (DETE), Office of the Director of Consumer Affairs (ODCA) and Registrar of Friendly Societies.

The Financial Regulator is a member of the Committee of European Securities Regulators. Patrick Neary, chief executive, represents the organization of the Committee.

History

The Central Bank & Financial Services Authority of Ireland Act, 2003, ^[2] led to the establishment of the new Financial Regulator. The Central Bank & Financial Services Authority of Ireland Act 2004 Act created a statutory financial services ombudsman for consumers.