31. Deputy Terence Flanagan asked the Minister for Finance his views on financial service providers being regulated in one EU country while only trading in another EU country through the process known as passporting; if EU rules in such cases militate against the protection of consumers, which should be based on a model of assertive risk-based supervision; his views on whether it is correct for regulators to make decisions for passporting on the basis of the operation of the business locally; if the Central Bank of Ireland, or any EU member state's central bank, has authority to refuse a passporting application; and if he will make a statement on the matter. [23707/14]

Summary

31. Deputy Terence Flanagan asked the Minister for Finance his views on financial service providers being regulated in one EU country while only trading in another EU country through the process known as passporting; if EU rules in such cases militate against the protection of consumers, which should be based on a model of assertive risk-based supervision; his views on whether it is correct for regulators to make decisions for passporting on the basis of the operation of the business locally; if the Central Bank of Ireland, or any EU member state's central bank, has authority to refuse a passporting application; and if he will make a statement on the matter. [23707/14]

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• Insurance Industry Regulation

  xml · EN · 4 June 2014

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