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Cowen announces major regulatorary changes

  • 28-02-2009 8:44pm
    #1
    nesf
    Registered Users, Registered Users 2 Posts: 27,644 ✭✭✭✭


    He talked of combining the present Central Bank and Financial Regulator to form a single commercial regulator and do similar for the regulation of business with the public. He mentioned following the Canadian model.

    I'm looking forward to seeing more detail. This is a good idea, one of the key problems that has been shown in the UK is that splitting bank regulation across multiple bodies does not work and the inevitable turf wars cause things to fall between the cracks.


Comments

  • #2
    Anonymous1987
    Closed Accounts Posts: 784 ✭✭✭Anonymous1987


    There has been suggestions of a European Financial Regulator. One of the problems with the current Irish regulator was the close relationship between the business community and the regulator. A move to Europe would remove this to an extent. Of course the usual political issues will arise however with the relative success of the European Central Bank a European regulator has potential.


  • #3
    AlekSmart
    Registered Users, Registered Users 2 Posts: 14,005 ✭✭✭✭AlekSmart


    To restate Eamon Gilmore`s remark in the Dàil on Friday re the Financial Regulators response to assurances that the Banking sector was sorting its own affairs out..

    "Fair play to ye Willie".

    A fitting epitaph if I ever heard one !!


    Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.

    Charles Mackay (1812-1889)



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