Dublin’s role as centre of international finance may be under threat

DUBLIN’S burgeoning reputation as an international financial centre could be seriously compromised if the new Irish Financial Services Regulatory Authority (IFSRA) fails, according to a study launched yesterday.

And ordinary investors could pay dearly too, saysJonathan Westrup, author of Financial Services Regulation in Ireland: The Accountability Dimension.

Mr Westrup believes there are significant doubts about the operational independence of the new financial regulator the IFSRAand much scope for confusion about lines of responsibility and accountability according to the study published by the Policy Institute at Trinity College Dublin.