Forum To Lead The Way On Irish Financial Services Legislation

by Jason Gorringe, Tax-News.com, London

02 May 2007

Irish Minister for Finance, Brian Cowen, has announced the appointment of Padraig Pádraig Ó Ríordáin, Managing Partner of Arthur Cox Solicitors, as Chair of the Financial Legislation Advisory Forum.

Commenting on the move, Cowen explained that:

“Financial services are a key growth sector of the Irish economy. The international financial services sector alone now directly employs over 22,000 people and accounts for about one-third of all our services exports."

"I am very pleased that Mr O Riordain has agreed to take on the important role of the Chair of the expert Forum which will advise my Department on the updating of the legislative framework governing the regulation of financial services."

"The work of the Forum will help ensure that we have a world class legal framework which keeps the financial sector at the forefront of innovation and competitiveness while at the same time promoting the interests of consumers.”

Ó Ríordáin added: “I am honoured to be asked by the Minister to undertake this role. The next phase of legislative development for the financial services sector is of key importance both to Ireland’s economy and to our consumers. The work of the Forum will be central to this. I very much look forward to helping capture and distill the perspectives of all stakeholders on the Forum to realise fully the benefits of this substantial and significant project.”

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