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Thursday, 18th April 2024
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Financiers feature strongly in new forum Back  
The financial services industry is well represented in a new forum established by the Minister for Enterprise Trade and Employment Miche?l Martin to encourage high level dialogue on regulation and administrative burdens.

Dr. Donal De Buitl?ir of AIB Group will chair the Business Regulation Forum (BRF), which will advise the Government, on regulatory issues as they impact on business and competitiveness, in particular on issues and on problems arising from outdated, inefficient or disproportionate regulation.

Other financial services participants include Diarmuid Bradley, Deputy CEO, Permanent TSB Bank, Gear?id Doyle, Founder, Kinsale Capital, and Pat Farrell, CEO, Irish Bankers’ Federation.

From the Government side it is envisaged that representatives of the Departments of the Taoiseach, Finance and Enterprise, Trade and Employment will be permanent members of the BRF with other Departments and their agencies participating as necessary on an issue basis.

According to Minister Martin, ‘the BRF will work in parallel to the existing Better Regulation Group of Government officials and Regulators. The BRF will take a strategic overview of the application of “Better Regulation” principles to new regulation and examine specific existing regulations, on a problem-solving basis. Because the BRF should be a dynamic body which will identify, focus on and prioritise regulatory issues of concern I do not want to be prescriptive about its work. The adoption of a detailed work programme will be a matter for the BRF. The BRF will become operational immediately’.

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