Survey - industry's feelings on regulatory regime are set out in very clear terms
An extensive survey examining the financial services industry's approach to the regulatory regime in Ireland, and the role of the Financial Regulator has revealed that the industry is committed to a regulatory regime, and 40 per cent of respondents to the survey are currently satisfied with the Financial Regulator. However, there was a significant degree of disenchantment with the Regulator expressed in the survey, as 49 per cent say the regulatory regime is too burdensome, 41 per cent say that the Regulator inhibits competitiveness and innovation, and 43 per cent of respondents said that they did not feel that the Financial Regulator fully understands their businesses.
This article appeared in the July 2006 edition.