Arthur Morgan (Louth, Sinn Fein)
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Question 134: To ask the Minister for Finance the steps being taken to reform the financial regulatory system going forward; and if he will make a statement on the matter. [12797/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I am bringing proposals before the Government to introduce new structures for regulation of financial services that will provide for the integration of Central Bank responsibilities with regulatory and supervisory functions and a new approach to enhance consumer protection. These changes are designed to restore Ireland's reputation and are consistent with the emerging international agenda for reform in the financial services sector. The structural changes and a substantial increase in regulatory capacity will lead to a more effective and efficient financial services regulatory system which will be aligned to the best international standards.