Muldoon: Mindset change needed

Real and lasting financial sector reform will only be achieved with a cultural change in mindset in both the public and private sector, a senior figure in the Irish Central Bank has stated.

Fiona Muldoon, the head of banking and insurance regulation at CBI, made her comments at the University of Limerick yesterday where she addressed a seminar organised by the Kemmy Business School.

In her address Ms Muldoon acknowledged that in order to maintain a strong, active single market, regulation and regulatory structures must change in response to market developments and innovations.