IRELAND 21 November 2017
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The Comptroller and Auditor General has published a report on a value for money examination of the Financial Regulator. The Financial Regulator oversees the regulation of most forms of financial services provision in Ireland. It has a two-part mandate: a prudential mandate, under which it aims to foster sound, dynamic financial institutions in Ireland: and a consumer mandate, under which it aims to help consumers make informed financial decisions in a safe and fair market. The operating cost of the Financial Regulator increased from €35 million in 2004 to just short of €46 million in 2006, a 30% increase in two years. The Comptroller and Auditor General's examination looked at ·how the Financial Regulator sets standards and provides guidance to financial service providers, particularly in relation to promulgation of EU single market measures ·operational measures undertaken by the Financial Regulator to monitor compliance by financial service providers with st