Jim Higgins (Fine Gael)

I welcome the Minister of State. I am vehemently opposed to this Bill which proposes to include two conflicting interests in one umbrella authority, the Irish Financial Services Regulatory Authority. The fact that "regulatory", the operative word, is included in the authority's name is a clear acknowledgement of where its key emphasis will lie. It is obvious that the new authority will have a focus on regulation, as it will be an adjunct to the Central Bank.