Joe Costello (Dublin Central, Labour)
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Question 15: To ask the Minister for Finance if he will confirm that the salary of the new chief executive of the Financial Regulator is higher than his predecessor by as much as €150,000; and if he will make a statement on the matter. [44893/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Under the Central Bank Act, 1942, as amended, the Chief Executive of the Financial Regulatory Authority is appointed by the other members of the Authority and the conditions of employment are agreed between the person and the other members of the Authority.

However, I know that extensive efforts were made to get a high calibre candidate and I will be pleased to see Mr. Elderfield take up his post in the very near future. My principal concern is to see him operate successfully in rebuilding confidence in our financial regulatory system.