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

Photo of Michael D'ArcyMichael D'Arcy (Wexford, Fine Gael) | Oireachtas source

We have all acted in the best interests of people, consumers in particular, but from what I can see none of them has been investigated. The legislation has only been enacted for a short period of time. I do not have a figure.

I am told that is a small number of cases but none has been consented to for an investigation. Additional scoping into that is required, and following that we can take the opportunity on Report Stage if more needs to be done. It must be constitutionally sound and there are implications which I want to flag. We cannot bring forward any legislation that does not have the consent of the Office of the Attorney General or something that is potentially not constitutional.

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