Financial Regulator (Ireland)

Financial Regulator
Rialtóir Airgeadais
Agency overview
Formed1 May 2003
Dissolved1 October 2010
Superseding agency
JurisdictionIreland
HeadquartersRepublic of Ireland Dublin
Agency executives
Parent agencyCentral Bank of Ireland
WebsiteWeb archive

The Financial Regulator (Irish: Rialtóir Airgeadais), officially the Irish Financial Services Regulatory Authority, was the single regulator of all financial institutions in Ireland from May 2003 until October 2010 and was a "constituent part" of the Central Bank of Ireland.[1][2] It was re-unified with the Central Bank of Ireland on 1 October 2010 and its board structure was replaced by a new Central Bank of Ireland Commission.

Matthew Elderfield, formerly head of the Bermuda Monetary Authority, led the organisation from January 2010 until it was disestablished in November 2010.[3] The previous chief executive officer was Patrick Neary, who retired early over the handling of the regulator's investigation into the €87 million in secret directors' loans at Anglo Irish Bank.[4][5] The incumbent before that, had companies he is a director of, fined a total of €3.35 million by his previous employers the Financial Regulator, for risk control and reporting failures.[6][7][8]

  1. ^ "Central Bank and Financial Services Authority of Ireland Act 2003, Section 26". Government of Ireland. 22 April 2003. Archived from the original on 9 September 2010. Retrieved 4 December 2010.
  2. ^ "2007 Annual Report" (PDF). Financial Regulator. 18 April 2008. Retrieved 3 December 2010.[permanent dead link]
  3. ^ "Central Bank appoints Englishman to top job". The Irish Independent. 20 October 2009. Archived from the original on 21 October 2009. Retrieved 20 October 2009.
  4. ^ "Neary to retire as Regulator". RTÉ. 9 January 2009. Archived from the original on 22 February 2011. Retrieved 14 October 2010.
  5. ^ Sinead Ryan (10 January 2009). "Financial regulator Patrick Neary has finally taken early retirement". Evening Herald. Archived from the original on 1 August 2012.
  6. ^ Webb, Nick (25 October 2009). "Ex-regulator red-faced as bank hit by €2.75m fine". Irish Independent. Archived from the original on 1 February 2010. Retrieved 7 December 2009.
  7. ^ "Settlement Agreement between the Financial Regulator and Merrill Lynch" (PDF). Financial Regulator. 22 October 2009. Archived from the original (PDF) on 21 July 2011.
  8. ^ "Settlement Agreement between the Financial Regulator and Irish Life" (PDF). Financial Regulator. 3 September 2009. Archived from the original (PDF) on 21 July 2011.