The purpose of the Financial Regulator is:
- to help consumers to make informed decisions* on their financial affairs in a safe and fair market; and
- to foster sound dynamic financial institutions in Ireland
The Financial Regulator undertakes its role in a number of integrated ways:
- Rigorous authorisation procedures for entrants to the financial services market
- Supervision of financial service providers which focuses on their solvency and risk management processes
- Recurring compliance with consumer protection code so that financial service providers act in a fair and transparent manner in their dealings with consumers
- Provision of independent information to consumers to raise awareness of the costs, risks and benefits of various financial services*
*With effect from 1 March 2010, the statutory consumer information and education functions transferred to the National Consumer Agency.