Oireachtas Joint and Select Committees
Thursday, 31 May 2018
Select Committee on Finance, Public Expenditure and Reform, and Taoiseach
Markets in Financial Instruments Bill 2018: Committee Stage
10:00 am
Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source
For clarity, we will be in scope to bring amendments forward on Report Stage on this issue. It has been well discussed. Some months ago I went onto the website of the office of the ombudsman as I had a query from a constituent. There was no information there about the change in the law, no clarity on the change to the six year rule and the discoverability clause that we introduced. I contacted the office and got information from it but for consumers who want to know where they stand, there has been no real awareness campaign about the change in the law and what it means exactly. That is an issue and is something that we might highlight in correspondence with the ombudsman.
In common with Deputy Ó Laoghaire, we retain the right to bring this issue forward again on Report Stage which will presumably the week after next. Hopefully by then we will have clarity from the ombudsman, if we write today.
No comments