Today's Irish Times sceptical of IFSRA

[Brendan Burgess]

There were no fewer than 4 pieces about IFSRA in today's Irish Times.

The front page of the business section carries a report on their launch of their strategic plan yesterday in which the chief executive said that there was a need for ethical standards and probity among the chief executives of financial institutions. He apparently alluded to their power to remove the chief executives of financial institutions!

The main editorial is headed
IFSRA yet to make its mark

These...serve to highlight the challenge now facing IFSRA: to turn fine sounding words into concrete action ...

At this stage, some nine months into its existence, we have had plenty of rhetoric from IFSRA but only limited action. The running has been made to date by the Competition Authority...

Yesterday was another occasion for oratory, with the consumer director of IFSRA promising a range of initiatives...

While laudable and welcome, it is hard to see how any of the initiatives and principles elucidated yesterday will significantly bring down the cost of financial services...

And an article by Siobhán Creaton on page 3 of the Business Section:

It would be fair to say that the new regulatory body won't have made any noticeable impact on most consumers' financial dealings to date...

Tangible improvements in the cost of financial services and a greatly improved service to customers must be its goal and hopefully we won't have to wait until 2006 to enjoy those benefits

It's nice to see IFSRA getting a prodding from the Irish Times with whom it shares a Chairman - Brian Patterson

Brendan

 

[rainyday]

there was a need for ethical standards and probity among the chief executives of financial institutions. He apparently alluded to their power to remove the chief executives of financial institutions!

Mmm.... I wonder if they have any particular CEO/institution in mind????