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FINANCIAL REGULATOR
In November 2001 the Central Bank of Ireland became responsible
for the regulation of Insurance Intermediaries. Handbooks were
issued to all intermediaries and were asked to apply for authorisation.
The Financial Regulator (FR) was set up in May 2003 as a statutory
body as the regulator for the entire financial services industry
which includes – banks, insurance and mortgage intermediaries,
insurance companies, credit unions and moneylenders.
The key aims of the Financial Regulator
is to regulate the industry under a set of rules where the
financial services industry is transparent and accountable
in the eyes of the consumer.
