Ciarán Lynch (Cork South Central, Labour)
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Question 92: To ask the Taoiseach the role, function and membership of the IFSC clearing group located in his Department; the members since 2002 coming from Departments, State agencies and the private sector; the methodology for identifying persons from the private sector to serve on the group; the workload of the group since 2002, specifying particular aspects of Government policy including proposals for legislation that were considered by the group; and if he will make a statement on the matter. [18374/10]

Brian Cowen (Laois-Offaly, Fianna Fail)
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My Department has taken a coordinating role in support of development of the international financial services industry since its inception in 1987. The Department operates a forum for this purpose through the IFSC Clearing House Group, which first met in October 1993, and through a series of specialised Working Groups in the areas of Banking & Treasury, Insurance, Funds and Pensions. There is also a specialist Task Force on Asset Management.

The IFSC Clearing House Group (CHG) identifies and considers issues of major concern to the long-term development of the international financial services industry in Ireland, including the strategic development of new business areas and opportunities, the progress of relevant legislation, both domestic and European, consideration of regulatory issues, the provision of relevant industry skills and the appropriate marketing of the industry.

Membership of the Clearing House Group includes senior public sector and industry representatives together with the Chairs of the respective Working Groups and Task Force and is chaired by the Secretary General of the Department of the Taoiseach. The other Working Groups and Task Force are chaired by industry representatives. The duration of the membership of the CHG and the other Working Groups and Task Force is approximately three years.

Industry members of the Clearing House Group since 2002 have been appointed by an agreed nominating process which is coordinated between my Department and Financial Services Ireland (FSI), which is a sector organisation within IBEC. The industry members are nominated by FSI through this process which aims to ensure that all sectors of the international financial services industry are represented.The Chair of the Dublin International Insurance and Management Association (DIMA) and the Chief Executive of the Irish Stock Exchange are also members of the Group. My Department does not have a role in the nominating of industry nominees to the CHG.

In addition, the Chairpersons of the other IFSC Working Groups and Task Force all serve as members of the Clearing House Group for the duration of their tenure as Chairs of the particular Groups.

Among the various initiatives undertaken by the CHG was the publication of the strategy document " Building on Success", which was launched by the then Taoiseach in September 2006. This strategy covers the areas of regulation, legislation, marketing, education and innovation.

In February 2009, the CHG facilitated an Industry Workshop in Dublin Castle with the intention of considering the main issues affecting the industry and the ideas which emerged from the workshop are being considered and worked through the various Government Departments and State Agencies under the guidance of the CHG.

Names and Sectors of those who are/were, at different times, members of the IFSC Clearing House Group, since 2002.

Public Sector Mr. Dermot McCarthy, Department of the Taoiseach (Chair) Mr. George Shaw, Department of the Taoiseach Mr. Kevin Cardiff, Department of Finance Ms. Ann Nolan, Department of Finance Mr. Donal McNally, Department of Finance Ms. Brigid McManus, Department of Finance Mr. Michael McGrath, Department of Finance Mr. William Beausang, Department of Finance Mr. Derek Moran, Department of Finance Mr. Gary Tobin, Department of Finance Mr. Sean Gorman, Department of Enterprise, Trade and Employment Mr. John Corcoran, Department of Enterprise, Trade & Employment Mr. Paul Haran, Department of Enterprise, Trade & Employment Mr. Sean Gorman, Department of Enterprise, Trade and Employment Ms. Breda Power, Department of Enterprise Trade and Employment Mr. Vincent Madigan, Department of Enterprise, Trade and Employment Mr. Ronald Long, Department of Enterprise, Trade and Employment Ms. Ruth Carmody, Department of Education and Science Ms. Muriel Hinch, Revenue Commissioners Mr. John McNamara, Revenue Commissioners Mr. Frank Mullen, Revenue Commissioners Mr. Eamonn O'Dea, Revenue Commissioners Mr. Jim Byrne, Revenue Commissioners Mr. Sean Moriarty, Revenue Commissioners Mr. Brendan McCormack, Revenue Commissioners Mr. Barry O'Leary, IDA Ireland Mr. Brendan Logue, IDA Ireland Mr. Seán Dorgan, IDA Ireland Mr. David Hanna, IDA Ireland Ms. Deirdre Lyons, IDA Ireland Mr. Kieran Donoghue, IDA Ireland Ms. Jennifer Condon, Enterprise Ireland Mr. Joe Breslin, Enterprise Ireland Mr. Kevin Sherry, Enterprise Ireland Mr. Matthew Elderfield, Financial Regulator Mr. George Treacy, Financial Regulator Ms. Martina Kelly, Financial Regulator Mr. Pat Neary, Financial Regulator Mr. Con Horan, Financial Regulator Mr Michael Deasy, Financial Regulator Mr. Peter Coyne, Dublin Docklands Development Authority Mr. Paul Maloney, Dublin Docklands Development Authority

Industry Members nominated by Financial Services Ireland (FSI) Mr. Michael Ryan, Merrill Lynch Capital Markets Bank Ltd. Mr. Denis Casey, Irish Life & Permanent plc Mr. Willie Slattery, State Street Mr. Pat Wall, PriceWaterhouse Coopers Mr. Colm Doherty, AIB Capital Markets Mr. Brian Goggin, Bank of Ireland Mr. Mick Sweeney, Bank of Ireland Mr. Sean Crowe, Bank of Ireland Mr. Denis Donovan, Bank of Ireland Mr. Michael Deeny, DEPFA ACS Bank Mr. Pat Farrell, IBF Mr. Tony Golden, Citigroup Mr. Brendan Kelly, Financial Services Ireland Ms. Aileen O'Donoghue, Financial Services Ireland Mr. Andrew Healy, NIB Mr. Liam Donlon, KBC Bank Mr. Fergus Murphy, EBS Mr. Robert Richardson, Pioneer Investments Mr. Peter Keegan, BAML Mr. Neil Ward, BMO Mr. Brian Daly, KPMG

Chairs of IFSC Working Groups Ms. Máire O'Connor, Ernst & Young Mr. Eamon O'Brien, AON Insurance Managers Mr. Keith McDonald, Citibank Mr. Brian Collins, Bank of Ireland Security Services Mr. Walter Brazil, AIB Capital Markets Mr. Gavin Caldwell, KBC Asset Management Mr. David Dillon, Dillon Eustace Solicitors Mr. David Fagan, Legal & General Mr. Gary Palmer, IFIA Mr. Padraig Rushe, Bank of Ireland Mr. John Feely, Attain Mr. John Larkin, William Fry

DIMA and Irish Stock Exchange Ms. Deirdre Somers, Irish Stock Exchange Mr. Scott McIntosh, DIMA Mr. Tim Hennessy, DIMA