There is now a new focus on financial regulation and this includes, in particular, more emphasis on the consumer. There is also growing recognition internationally of the desirability of all financial institutions being supervised by a single regulator as is now the case in Ireland.
The Financial Services Regulator has as its focus the protection of consumers by helping them to make more informed decisions in a safe and fair market and to foster sound dynamic financial institutions. The Central Bank’s statutory responsibility in this regard relates to the stability of the overall financial system and not individual institutions.