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Minister for Finance. Mr Michael Noonan, TD, welcomes appointments to the Irish Financial Services Appeals Tribunal (IFSAT)

The Minister for Finance, Mr Michael Noonan, TD, welcomes the appointment by the President of members to the Irish Financial Services Appeals Tribunal (IFSAT). Members were appointed by the President on the nomination of the Government. The Warrants of Appointment were signed by the President on 5 November. Members have been appointed for a term of 5 years.

The appointments are:

Chairperson - Former Supreme Court Judge Francis D Murphy

Deputy Chairperson – Ms Inge Clissmann SC

Lay Members – Ms Geraldine Clarke, Ms Helen Collins, Ms Teresa Pilkington SC, Mr Conor Power BL and Mr Paul Brennan

The Tribunal will deal with appeals against certain decisions of the Central Bank.

The Minister stated:

“In addition to the recent legislative changes such as the Central Bank (Supervision and Enforcement) Act, 2013 which is an important step forward in building a strengthened regulatory framework for the Irish financial services sector, the Irish Financial Services Appeals Tribunal is an important body in ensuring the integrity of the regulatory regime for financial service providers in this country. I wish the newly appointed Members the very best in the important role they are about to assume.”

Ends

Notes for Editors

Background Info on the Tribunal

The Irish Financial Services Appeals Tribunal (IFSAT) is established under Part VIIA and Schedule 5 of the Central Bank Act 1942 as set out in the Central Bank and Financial Services Authority of Ireland Act 2003.

IFSAT is an independent tribunal which hears and determines on appeals from aggrieved parties against any decision of the Central Bank of Ireland which is designated an Appealable decision. It aims to provide an accessible, efficient and effective method of appeal in an informal and expeditious manner. Whether the decision is appealable to the Tribunal is defined in the relevant piece of legislation from which the decision derives. Recent legislation such as the Credit Union and Co-operation with Overseas Regulators Act 2012 brings additional appealable decisions in respect of credit unions under the remit of IFSAT.

The 2003 legislation governing IFSAT provides that it consists of a Chairperson, a Deputy Chairperson and between 1 and 5 lay members. It provides that members are appointed by the President on the nomination of the Government.

An appellant dissatisfied with the final outcome may appeal a decision of the Tribunal to the High Court.

The Tribunal is based at – First Floor, Fredrick House, 19 South Fredrick St, Dublin 2.

The IFSAT website is www.ifsat.ie

Background Info on the Appointees

Mr Justice Francis D Murphy is a former Supreme Court Judge.

Ms Inge Clissmann SC was called to the Irish Bar in 1978 and took silk in 1994. She was called to the Bar of Northern Ireland in 1996.

Ms Geraldine Clarke is a qualified solicitor specialising in commercial law and a former President of the Law Society of Ireland.

Ms Helen Collins is a former partner and Head of Litigation in McCann FitzGerald, with extensive experience in commercial litigation and is currently Deputy Chair of the Adoption Authority of Ireland.

Ms Teresa Pilkington SC is a practicing barrister with almost 20 years’ experience in the chancery areas of probate and succession, trusts and estates, land law and conveyancing as well as extensive commercial litigation experience.

Mr Conor Power BL is a practicing barrister in general civil litigation with a specialty in the areas of human rights, constitutional law, public law, employment law and children’s law.

Mr Paul Brennan is a qualified solicitor with considerable experience of the tribunal process and court procedures, both as a practising solicitor and a chairperson of the Mental Health Tribunals.