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Investor-compensation body seeks two directors

The Department of Finance is looking to fill two vacancies for consumer directors on the board of the Investor Compensation Company DAC (ICCL).

The ICCL operates Ireland's statutory compensation fund for eligible clients of investment firms.

Set up under the Investor Compensation Act 1998, it aims to operate a financially sound scheme in order to provide statutory levels of compensation to eligible investors of failed investment firms, and to make sure compensation is paid without undue delay.

The Minister for Finance Michael McGrath (pictured) has now invited expressions of interest from suitably qualified candidates.

Requirements

The department will manage the selection process.

The information booklet says that legal experience “at a senior level” is desirable.

Essential requirements for candidates include:

• A good understanding of the interests, experience and views of retail investors in financial services,
• A solid knowledge of the financial markets that provide services to retail investors, and
• An understanding of the related legislative and regulatory environment – including investor protection.

The appointments will be for three-years terms – from 21 January 2024 to 20 January 2027.

Those interested should send a CV and cover letter to iccldirector@finance.gov.ie by 3pm on 27 October.