Denis Naughten (Roscommon-South Leitrim, Fine Gael)
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Question 87: To ask the Minister for Finance the response he received from the Financial Regulator on foot of an investigation (details supplied) requested by his predecessor; and if he will make a statement on the matter. [3165/11]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I am advised that this question involves a case where an individual made representations to the then Minister for Finance in regard to a dispute he was having with a regulated financial entity. The matter was referred to the then Financial Regulator who, I understand, referred the matter to the Financial Services Ombudsman. I further understand that the Financial Services Ombudsman made a ruling on the matter.

My function, as Minister for Finance, is to put in place an appropriate legislative framework for regulation of the financial services sector. It would not be appropriate for me to become involved in individual disputes. At no point did the then Minister for Finance commission an investigation into the matter. Rather, he referred the matter to the relevant competent authority for appropriate follow-up action. The Financial Regulator confirmed to my Department that the matter was dealt with appropriately and in accordance with its regulatory remit.