Central Bank of Ireland
Dail Éireann — 2026-06-25
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Simon Harris (FG), Wicklow

I thank the Deputy. I have been very clear in my view on this. Our clear advice is that even if domestic legislation were passed, it would not allow for the Central Bank to refuse a prospectus where the requirements of the EU prospectus regulation have been met, including the standards of completeness, consistency and comprehensibility. We have to respect EU law and the Central Bank has to abide by it. In my view, EU law needs to change in relation to this. That is why I agree with the Oireachtas joint committee finding. After I directed my officials to engage with the Commission, the Deputy asked me whether I would directly engage. I did. I spoke to the Commissioner in the past week or two. I have written to the Commissioner in the last few days, outlining the very clear view of this Oireachtas that the prospectus regulation needs to be amended.
I intend to continue to pursue this actively. I also hope this could be considered as part of the EU Commission's set of proposals, which it is due to bring to the next Foreign Affairs Council meeting. I will also send the Deputy a copy of the letter and keep him informed of any further engagement. My honest view on the matter is that domestic legislation cannot trump EU law in determining what the Central Bank can and cannot do.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2026-06-25/debate/main
Retrieved: 2026-08-27T06:54:51+00:00
Sitting date: 2026-06-25