Richard Bruton (Dublin North Central, Fine Gael)

The Taoiseach will have read in the newspapers today that from a leaked report we discover that our Financial Regulator is 23% more expensive than equivalent regulators elsewhere, it carries out fewer inspections and enforcement, that the role of senior managers is unclear and that the taxpayer is taking a bigger share of the cost of running this office than are the financial institutions. Against that background, I would like to know when the legislation on the Financial Regulator will be published and when a new Financial Regulator will be appointed. We are limping along with a system with no clear leadership and no reform.

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