I wish to deal with a more detailed description of the Bill. Its main purposes are to provide for the establishment of the Irish Financial Services Regulatory Authority within the overall new structure of the Central Basic and Financial Services Authority of Ireland; to assign functions to the new authority as the single regulator for the financial services sector – this will provide a one-stop-shop by having the regulation of insurance, investment intermediaries, banking and credit unions as well as certain other functions under the one roof; to strengthen the consumer focus of regulation by giving the authority specific responsibilities in this regard and creating a statutory position of consumer director; and to establish the Financial Services Appeals Tribunal.