Financial Services
Seanad Éireann — 2026-06-16
============================================================

Aubrey McCarthy (IND), University of Dublin

I welcome the engagement. I want to be constructive here. What the Minister of State's statement does say is that we understand the strategic risks of inaction, which might be significant. We are also waiting on the Central Bank to come back with its findings and we are also looking at other countries. I do not think the industry is asking for a whole lot here. It is looking for specific amendments to existing legislation regarding the Irish Collective Asset-management Vehicles Act and company law and practical changes that will clearly signal to global firms that Ireland is ready to play a huge part in the next chapter. When the Minister of State is looking at countries that already do this, I have mentioned Luxembourg, Singapore and the UK and they certainly are not waiting.
However, I understand that the Government has to be careful. I understand the concerns regarding GDPR, money laundering and so on. I ask the Minister of State to take one question away with him today. Can we commit to the amendments in this year's finance Bill?

---

Source: Houses of the Oireachtas. Licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). The Official Report is revised after first publication; the fetch timestamp below identifies the version quoted.

Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/seanad/2026-06-16/debate/main
Retrieved: 2026-08-14T04:55:03+00:00
Sitting date: 2026-06-16