Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

There are two issues. If a company is regulated abroad, it is not regulated here but the Central Bank regulates the operations from a code of conduct perspective. The bank also has a markets intelligence unit - I cannot remember its exact name - but it does this work. The Central Bank has been at the forefront of pushing for greater convergence when it comes to the supervision of insurance across Europe and it is very much across this, protecting not just the Irish customer, as it has a responsibility to Irish entities, but also European entities as that comes under the European Central Bank.