Results 2,841-2,860 of 40,550 for speaker:Joan Burton

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: The point is that these products are being sold to vulnerable people.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: Please let me finish. Such vulnerable people include those in the acting chairman's constituency.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: They are buying products by remortgaging their homes for high prices. Eighteen months after being initially asked about this matter, the Minister is now saying that some regulation is needed. While that is to be welcomed, some of these products are excessively risky. I hope all the wonderful people in the European Central Bank and beyond who are advising the Minister can come down to the...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: I am sure he is.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: Will the Minister comment on the problems a couple of years ago in the reinsurance market concerning the financial services sector? We never got information from the Financial Regulator or from the Minister. The problems that arose in Dublin concerning vehicles associated with a number of reinsurance companies were widely publicised, particularly in The Wall Street Journal. That newspaper...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: Maybe it relates to the section.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: Does this include, for instance, financial derivative products such as contracts for difference as well as hedge funds? The Minister said that from 1 November some regulation will come in for contracts for difference. These contracts constituted more than 50% of the business on the Stock Exchange here until it crashed. Is it intended to extend the remit of the Act in respect of that type...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: I move amendmentNo. 8: In page 12, line 31, after "1942" to insert the following: "(as amended by section 26 of the Central Bank and Financial Services Authority of Ireland Act 2003)". This is a technical amendment, but I would like the Minister to comment on the section.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: The Financial Services Ombudsman has provided a mechanism for people who have been badly treated by banks, financial institutions and insurance institutions to seek to have consumer issues redressed. Is the Minister aware that the Financial Services Ombudsman has recently withdrawn from an investigation that he had undertaken on people transferring insurance products? The suggestion is that...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: I move amendment No. 9: In page 14, lines 11 and 12, to delete "Acts 1990 and 2000" and substitute "(Amendment) Act 2000". These are technical amendments in respect of the proposed amendment to the Act. It is unorthodox drafting practice to amend a collective citation rather than a specific Act. The Act being amended by this section is the National Treasury Management Agency (Amendment) Act...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: I move amendmentNo. 10: In page 14, paragraph (a), lines 13 and 14, to delete all words from and including "of" in line 13 down to and including "2000" in line 14.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: I move amendmentNo. 11: In page 14, paragraph (b), lines 19 and 20, to delete all words from and including "of" in line 19 down to and including "2000" in line 20.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: I move amendmentNo. 12: In page 14, paragraph (c), lines 25 and 26, to delete all words from and including "of" in line 25 down to and including "2000" in line 26.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: I move amendmentNo. 13: In page 14, paragraph (d), lines 38 and 39, to delete all words from and including "of" in line 38 down to and including "2000" in line 39.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: I move amendmentNo. 14: In page 15, paragraph (e), lines 11 and 12, to delete all words from and including "of" in line 11 down to and including "2000" in line 12.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: I move amendmentNo. 15: In page 15, paragraph (f), lines 15 and 16, to delete all words from and including "of" in line 15 down to and including "2000" in line 16.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: I agree with the Tánaiste that the NTMA has been a successful public body. Its operations have enabled us to obtain good value in managing the national debt and have brought the cost of servicing and managing the national debt down considerably. I notice that in recent times the National Pensions Reserve Fund, which is one of the agencies under the umbrella of the NTMA, has taken a...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: On the same subject, I would feel relieved if the NTMA were taking charge of some of the treasury functions of the HSE. Compared to what is happening at present, it might be for the better. The Minister might let us have a note on the issue. Given the changes in the financial markets and the risk factors that are now much higher because of the turbulence in the markets, as the Minister...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: I would appreciate a note because the difficulty for people in opposition is that if one asks the Minister for Health and Children about anything, it is referred to the HSE, from which many months later some responses arrive. Sometimes it would be easier to understand ancient calligraphy than to understand the responses of the HSE in any meaningful ordinary sense of the word. I have an open...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage (17 Oct 2007)

Joan Burton: This section deals with changes in the ministerial pension legislation. Currently a pension is payable if the former office holder applies for it within six months of becoming eligible for it, otherwise it is payable from the date of application. This amendment will allow for payment of a ministerial pension to be backdated to a date not earlier than the date of entitlement. Did somebody...