Wednesday, 24.03.2010
Financial Regulator to add 360 jobs in next two years

The new Financial Regulator is planning to double his staff numbers over the next two years.<br /><br />Matthew Elderfield has expressed surprise at how poorly resourced the system is.<br /><br />He told the Irish Times he plans to increase staff numbers by 160 this year, and a further 200 in the next two years, in order to bring Ireland into line with international norms.<br /><br />Mr Elderfield is also calling for tougher fines for those who break the sector's rules, saying the current maximum of €5m is not enough of a deterrent.