Independence for Financial Regulator

NINE in 10 (87%) compliance officers in Ireland believe the Financial Regulator should be independent of the Government.

The majority of participants in the first comprehensive survey of financial services compliance, carried out by Deloitte, believe that independence is required in order to carry out successful monitoring which it is key to the success of the Financial Regulator.

The survey, carried out in conjunction with the Association of Compliance Officers in Ireland, found the number one challenge identified by respondents was the quantity of “upstream compliance” or keeping up with the volume of new regulations.