Bernard Durkan (Kildare North, Fine Gael)
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81. To ask the Minister for Finance the degree to which he and his Department continue to monitor the activities of investment funds here, with particular reference to the need to ensure that their activities are strictly in accordance with their operational licence; and if he will make a statement on the matter. [46045/24]

Jack Chambers (Dublin West, Fianna Fail)
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While the Minister for Finance has overall responsibility for policy matters in relation to the investment funds sector, the Central Bank of Ireland is the responsible statutory body for the authorisation and supervision of investment funds established in Ireland. The regulatory and supervisory framework under which the Central Bank exercises this mandate primarily derives from two EU Directives:

• Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities; and
• Directive 2011/61/EC of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010.

As Ireland's independent financial services regulator the Central Bank of Ireland operates an assertive risk-based approach to supervision which is supported by a credible threat of enforcement, with the overall objective of ensuring financial stability, consumer protection and market integrity.

Finally, the Deputy may also wish to note that following Government approval, I recently published a review of the funds sector - Funds Review 2030: A Framework for Open, Resilient & Developing Markets. The report is a comprehensive piece of work and is available on the Department of Finance website.