PEOPLE who put more than €500,000 into an unsuccessful pyramid scheme are to get half of their investment back a court heard yesterday.

A LEGAL challenge to the entitlement of Start Mortgages Ltd to issue mortgages here has major implications for Start’s €1 billion housing loans and for the legal position of other lenders, the Central Bank has told the Commercial Court.

THE High Court has adjourned attempts by the country’s financial watchdog to put a beleaguered insurance firm, owned by tycoon Seán Quinn, into permanent administration.

The Financial Regulator's application to have two joint administrators to the Quinn Insurance group confirmed by the High Court has been adjourned for a week.

THE chairman of Irish Life & Permanent, Gillian Bowler, has announced a number of board resignation and other key changes within the board structure.

THE Irish Banking Federation has apologised to bank customers for “letting them down” and said work was being done to rebuild trust.

THE Government’s man on the Anglo Irish Bank board Alan Dukes has said he cannot understand why it has taken the Director of Corporate Enforcement so long to progress a possible criminal case against the stricken bank.

NO eggs were thrown at the annual general meeting of Irish Life & Permanent in Dublin yesterday, but sadly the bank’s shareholders didn’t get to bring home the bacon either.

The Dáil will hear a private members motion tonight calling on the Government to make Irish banks more accountable to the public.

WHERE did Cardinal Brady look for inspiration when he declared in Killarney that Bishop Magee should remain in his see?

The chairman of the Irish Financial Services Regulatory Authority (IFSRA), Jim Farrell, testified yesterday before the Oireachtas Joint Committee on Finance and the Public Service that his office was too trusting in depending on the ethics of officials.

Auditors who checked the annual accounts of Anglo Irish Bank should have spotted secret multi-million euro loans, Financial Regulator Patrick Neary said today.

Financial regulator Patrick Neary is to make his first public appearance since resigning over a secret loans scandal at troubled Anglo Irish Bank when he is grilled by an Oireachtas Committee in Leinster House tomorrow.

The Financial Regulator, who faced calls to resign over a secret loans scandal at troubled Anglo Irish Bank, tonight announced he is quitting his post.

THE financial regulator said two funds based in the country have exposure to Bernard Madoff’s alleged investment scam.

THE festive Christmas break prevented proper analysis of one of the most shocking and infamous scandals ever to arise in corporate Ireland.

The board of the Financial Regulator tonight set up a high-level committee to probe directors’ loans in Anglo Irish Bank and other financial institutions.

The Government is expected to announce in the coming 48 hours that it is pumping billions of euros in to the troubled Anglo-Irish bank.

Taoiseach Brian Cowen will today hold talks with Chinese premier Wen Jiabao on growing trade and bilateral relations between Ireland and China.

THE Financial Regulator, Patrick Neary, will be forced to answer questions on whether Irish banks were involved in irresponsible lending leading to the current financial crisis when he meets a Dáil watchdog today.

The chairman of Irish Life & Permanent, Gillian Bowler, has announced the appointment of Liam O’Reilly as a non-executive director.

Building society Nationwide today signalled its intention to start operations in the Irish Republic.

Ryanair today sought permission to file a case against IFSRA (The Irish Financial Services Regulatory Authority) for its failure to launch any investigation of what Ryanair believes was the blatant abuse by Aer Lingus of Irish Stock Exchange listing rules by the company to one large shareholder in the run up to the closure of Aer Lingus’s Shannon base.

The Gardaí will have to sign up to accountability laws once major reforms of the force are bedded down, the Government signalled tonight.

THE security company at the centre of this week’s tiger kidnapping yesterday announced a new measure to protect staff and combat raids.

GREATER regulation is needed for equity release schemes aimed at property-rich older people, according to a new Law Reform Commission report.

The announcement yesterday of a new consumer protection code to ensure that banks are not allowed to rip off customers should be welcomed, but with a health warning.

CHAIRPERSONS of boards of State bodies will be paid more than the average industrial wage for what is essentially part-time work following a Government decision to increase their remuneration.

A LEGAL action by multimillionaire stockbroker Bruce Ashmore against his former employer, Goodbody Stockbrokers, and the financial regulator was settled at the High Court yesterday.

PANICKED savers swamped a credit union yesterday amid rumours it was facing imminent financial collapse.

RECORD profits of €1.7 billion last year were not enough for AIB. They want more. Unlike Oliver, they are not on the breadline, being the country’s biggest bank with a 23% increase in profits for the past 12 months.

The Financial Regulator is to take over the policing of the Irish Stock market from the Irish Stock Exchange from the end of next year.

The financial regulator, IFSRA, has announced that it is planning a New Year campaign to help people make informed choices on what to do when their Special Saving Incentive Scheme accounts mature.

The Irish Financial Services Regulatory Authority has advised consumers that they can save hundreds of euro by shopping around for home insurance.

The Irish Financial Services Regulatory Authority has rejected calls for it to impose a ban on 120% mortgages.

The Consumers Association has called on the financial regulator to impose a ban on 120% mortgages before they are introduced by Irish banks and building societies.

The Irish Financial Services Regulatory Authority has advised bank customers to shop around for the cheapest and most suitable current account.

A NEW system making it easier for small businesses to switch between banks will be in place early next year, the Irish Bankers’ Federation (IBF) said yesterday.

HOUSEBUYERS who take out life assurance from their mortgage provider could be missing out on thousands of euro if they fail to check for better deals elsewhere, the financial regulator warned yesterday.

Claire O’Sullivan

David Clerkin

MOTORISTS can save over €1,700 per annum on the cost of car insurance by shopping around between insurance firms, according to the latest survey by the Irish Financial Services Regulatory Authority.

The Irish Financial Services Regulatory Authority has advised people to shop around when planning to buy goods on hire purchase agreements.