Joan Burton (Dublin West, Labour)
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Question 158: To ask the Minister for Finance if he has received a response from the industry and consumer panels of the Financial Regulator following the proposal by his Department to establish a joint panel group to examine the issue of corporate governance in the financial institutions; the progress made to date as a result of his request; and if he will make a statement on the matter. [11235/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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My Department wrote to the chairs of the consultative panels suggesting that they might jointly consider the issue of corporate governance in financial institutions with a view to submitting their findings to the Financial Regulator so as to inform the work of the High Level Implementation Group progressing the reform of regulatory structures. The Chairs of both the Industry and Consumer panels have responded to my Department indicating their interest in the suggestion. In accordance with section 57DG of the Central Bank Act 1942, it is a matter for the consultative panels themselves, with the consent of the Regulatory Authority, to establish a joint advisory group to report to the Financial Regulator if he so wishes. I understand that the panels have not yet reported on the matter.