Comment: Financial Regulator is no bulwark of consumer protection

Would a circus send a clown out to do the lion tamer’s job? Last week’s revelations by the Financial Services Ombudsman that a local bank had sold a six-year fixed-term investment bond to a customer in his eighties highlighted the inadequate nature o

20th October, 2007

Would a circus send a clown out to do the lion tamer’s job? Last week’s revelations by the Financial Services Ombudsman that a local bank had sold a six-year fixed-term investment bond to a customer in his eighties highlighted the inadequate nature of financial services regulation in Ireland.

It was not the first time and it won’t be the last. The ability of the Financial Regulator to portray itself as a...

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