Brian Cowen (Laois-Offaly, Fianna Fail)

Yes. There are provisions in the 1997 Act requiring such firms to keep records here so that they can be inspected and these provisions apply to those firms. In answer to Deputy Bruton's question, I do not know the actual time limit involved but the Financial Regulator abides by its own code of conduct for the time it takes to consider claims and issue authorisations or registrations. I can obtain the details and let the Deputy know in writing.

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