Oireachtas Joint and Select Committees
Wednesday, 22 May 2013
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Strategy Statement 2011-2014 and IFSC Clearing House Group: Discussion with Department of the Taoiseach
3:20 pm
Mr. Martin Fraser:
It is Government policy to try to develop the sector and other sectors. The best answer to Deputy Boyd Barrett's question goes back to what I said earlier about the importance of appropriate regulation, the particular importance of the independence of the regulator and the fact that the regulator no longer has a duty - he used to have it under law - to promote the industry. That no longer exists. The regulator is independent. As I stated earlier, I and people working with me do not attempt to influence the regulator. We let him do his job and I believe that is our best defence against these things as well as ensuring that we have proper regulation.