Michael McGrath (Cork South Central, Fianna Fail)
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Question 98: To ask the Minister for Finance if he will provide a list of financial institutions covered by the Central Bank's consumer protection code. [25659/11]

Michael Noonan (Limerick City, Fine Gael)
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I have been informed by the Central Bank that its Consumer Protection Code applies to the regulated activities of all regulated entities operating in this State including:

the services of all regulated entities operating in this State for which they require to be authorised by, or registered with, the Central Bank, and

persons with an equivalent authorisation or registration in another EU or EEA Member state when providing services in this State on a branch or cross-border basis,

the services of a financial or investment nature that are subject to regulation by the Central Bank, for which a separate authorisation is not required.

For the purposes of the Code "regulated activities" are services of a financial or investment nature that are subject to the regulation of the Central Bank. Also for the purposes of the Code "regulated entity" means a person who carries on a business of providing one or more "regulated activities".

The Code does not apply to regulated entities when:

providing services to persons outside the State,

providing Markets in Financial Instruments Directive Services,

providing the services of a "moneylender", within the meaning of the Consumer Credit Act 1995,

carrying on the business of reinsurance or reinsurance mediation,

carrying on the business of a "bureau de change" or "money transmission", within the meaning of Part V of the Central Bank Act 1997,

if such firm is a credit union, when providing services for which it does not require to be authorised by or registered with the Central Bank,

carrying on the business of entering into hire purchase agreements, or

carrying on the business of entering into consumer hire agreements.

The Central Bank has advised me that its registers contain individual registers for all financial service providers and collective investment schemes regulated by it. A consumer wishing to do business with a financial institution may check, by using a link on the Central Bank's website and inserting the company name in question, whether or not that institution is regulated by the Central Bank.