Irish financial regulation and the media
May 28th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish financial regulation has been under the spotlight this week with the Financial Services Consultative Consumer Panel, which was appointed by the Minister for Finance, saying in a report that most consumers have lost “significant amounts of money,” due to the inadequacies of the financial regulatory structure. It also criticised the “deficient” response of the regulator to threats to consumers, including the domestic property bubble. Today, the media is slammed for stoking up hysteria about an alleged lack of financial regulation in Ireland. In reality, it is claimed Ireland is heavily regulated and the "financial press" is said to have made its own contribution "to the debacle which now engulfs us."