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The Financial Regulator & The Consumer Panel

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  • 08-06-2009 1:28pm
    #1
    oceanclub
    Registered Users Posts: 3,411 ✭✭✭


    The Consultative Consumer Panel of the Financial Regulator is a watchdog body; more on it here:

    Introduction

    In May, the panel of the Financial Regulator issued a report condemning the Financial Regulator for not attempting to control the property bubble:

    Regulator 'added to slump' by failing to curb property bubble - The Irish Times - Tue, May 26, 2009
    THE DOWNTURN in Ireland was magnified by the Financial Regulator’s failure to control the property market bubble, according to a damning new report.

    The Financial Services Consultative Consumer Panel, which is tasked with monitoring the performance of the Financial Regulator, said in a report issued yesterday that most consumers have lost “significant amounts of money” due to the inadequacies of the financial regulatory structure. It also criticised the “deficient” response of the regulator to threats to consumers, including the domestic property bubble.


    However, this strikes me as being too little, too late. Does anyone know if the Consumer Panel issues such warnings before and at the height of the bubble itself?

    P.
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