Regulatory Outlook For The Funds Industry 2007

Introduction

Given the contributing role regulation may have on the competitiveness of the funds industry in Ireland and consequently its reputation, what is the regulatory outlook for 2007 and can we expect a measured approach from the Financial Regulator resulting in a positive impact on the Irish funds industry?

Irish Regulatory Outlook

In November 2006, the Financial Regulator issued its Strategic Plan which is a roadmap for Irish financial services regulation until 2009.

The Financial Regulator referred to aspirations shared by it and industry for a financially stable growing economy and a culture which promotes best international standards and the protection of consumers. To achieve this, the Financial Regulator set out its expectations of industry to implement good governance and sound risk management procedures, to willingly engage with it as regulator and most importantly to commit to protect consumers’ interests. Equally the Financial Regulator undertook to strive