I am satisfied that the structure adopted by the Government will work well because it will provide a one-stop-shop for consumers, business and the financial services industry by having the regulation of insurance, banking and credit unions under the one roof; facilitate the proper co-ordination of the complementary functions of prudential regulation and consumer protection; place the interests of consumers at the heart of financial services regulation by giving the authority specific responsibilities in this regard and creating a statutory position of consumer director; provide an effective framework for Ireland to meet its obligations under the statute of the European system of central banks; and provide for the operational autonomy and direct accountability of the new authority in relation to the bulk of its regulatory tasks.