Oireachtas Joint and Select Committees

Tuesday, 11 November 2014

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance

Irish Collective Asset-Management Vehicles Bill 2014: Committee Stage

2:30 pm

Photo of Simon HarrisSimon Harris (Wicklow, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I will try to bring clarity to the Deputy's point, which is fair and important. I am informed that those terms, particularly "duty of care", are defined in European law, particularly the UCITS directive and the accounting information system. I do not have the information to hand but it shows how these elements do not operate in isolation or a silo and although they will be overseen by the Central Bank rather that the Companies Registration Office, they are also subject to EU regulation. I am cognisant of the point, which is broader than this legislation.