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- 2.6 Statutory Legislation Governing Investment Business Relating To Consumer Credit Transactions —— THE IRISH POSITION
2.6 Statutory Legislation Governing Investment Business Relating To Consumer Credit Transactions —— THE IRISH POSITION
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2.6.1 |
False Assurance ——— Irish Insurance Act 1989 |
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2.6.2 |
Huffing and Puffing ——— Irish Investment Intermediaries Act 1995 and Irish Consumer Credit Act 1995 |
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2.6.3 |
A Marked Absence of Teeth ——— Irish Investment Intermediaries Act 1995 and Irish Insurance Act 2000 |
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2.6.4 |
The Irish Regulatory Regime |
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2.6.5 |
Control and Containment ——— Self Regulation: The Ombudsman Schemes |
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2.6.6 |
The Whitewash Imperative |
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2.6.7 |
A Stitch-Up in Time — NOT ACTIVATED YET |
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2.6.8 |
Some Men are More Equal than Others! — NOT ACTIVATED YET |
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2.6.9 |
From Whitewash to Quicklime ——— Pro-Active Concealment — NOT ACTIVATED YET |
IMPORTANT NOTE !
Be aware that Life Assurance, Pensions, and similar-type investment products, were (and still are) intrinsic to the financial services activities of most Financial Services Institutions in Ireland. Every Bank, Building Society and Credit Institution either had an incorporated Life Assurance subsidiary within its corporate structure or was affiliated to a Life Assurance Company.
There were absolute fortunes to be made by the misrepresentation (both by act and omission) of these investment products to customers / clients / consumers.
There was therefore AN ABSOLUTE IMPERATIVE that the collective self-interest of personal enrichment among those within the Financial Services Sector, particularly among those in Managerial Positions, be protected above all else.
It was the singular pursuit of this IMPERATIVE that would contort the course of Financial Services Legislation and Regulation in Ireland.
NOTE!
It is important that Irish consumers study the previous Sections on 'The United Kingdom Position', i.e. the entirety of the eight Sections within Section 2.5 —— THE UNITED KINGDOM POSITION, —— before studying THE IRISH POSITION.
Don't skip over them!
This will give a much greater perspective on 'how things are done in Ireland'.