Michael McGrath (Cork South Central, Fianna Fail)
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70. To ask the Minister for Finance his views that customers of Irish pension funds and insurance funds, and other Irish-based investments, were likely to have been at a loss as a result of manipulation of the foreign exchange market, which has resulted in multi-billion euro fines being imposed by five regulators on six international banks; if compensation will be payable to these investors; and if he will make a statement on the matter. [21079/15]

Michael Noonan (Limerick City, Fine Gael)
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I do not have role in investigating specific instances of alleged market manipulation whether in this jurisdiction or another nor can I comment on the redress available in other jurisdictions. 

I am advised by the Central Bank of Ireland that it is not aware of a complaint against an Irish authorised financial services firm alleging manipulation in FX markets and it has been following the activities of the UK and US regulatory authorities in respect of manipulation in global foreign exchange (FX) market. The Central Bank recommends that Irish investors who believe they may have suffered loss due to manipulation in FX markets should contact the regulated financial service provider with whom they dealt (which may be operating in Ireland or elsewhere) to get further information and should seek legal advice (which is appropriate to the jurisdiction in which they received these services). With regard to complaints concerning financial services providers authorised by the Central Bank of Ireland or subject to the terms of the Consumer Credit Act 1995, consumers and small businesses may also contact the Financial Services Ombudsman. The Ombudsman has the power to award compensation of up to a maximum of €250,000 or a €26,000 annuity where a complaint is upheld.