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Regulator to hire 200

FINANCIAL Regulator Matthew Elderfield (right) has been given the go-ahead to hire 200 new staff.

The Central Bank's board has given the thumbs up for the new team of financial regulation, just months after Mr Elderfield told an Oireachtas committee his office was "critically under-resourced" in the enforcement area.

The request is awaiting formal sign-off. A total of 120 staff have joined the Financial Regulator since Mr Elderfield took up office a year ago and the financial institution's supervision now has a team of 510.