A new financial regulatory authority for consumers looking to complain about misleading financial advice was launched in Dublin today by the Tánaiste.
Speaking at the launch of the Irish Financial Services Regulatory Authority (IFSRA), Ms Harney urged consumers to use the new service and said she was keen the IFSRA will promote the financial education of the public.
"This is the one-stop-shop we have been seeking for consumers. There is now one place for their queries. No more confusion, no more split roles, no more falling between stools," Ms Harney said.
Ms Harney also noted financial institutions of all sizes will also be able to deal with the regulator.
Referring to the IFSRA's role as an industry watchdog, Ms Harney said there could be no guarantee that scandals and deficiencies in financial services and regulation will never recur.
"But we can safely say that, had this new regulator and its new legislation been in place in the past, the problems we discovered would not have gone unchecked for so long," she said.
Ms Harney also defended the appointments of a number of Central Bank staff to the authority. Ms Harney described criticism from some quarters over the appointments as "unfair and ill-thought out".
She said the new management positions were advertised openly, handled by a professional recruitment process and decided on by the independent board of IFSRA. "No-one was, or should have been, disqualified from applying for a position by virtue of the organisation they worked for. No one was discriminated for or against".
Members of the public can contact the IFSRA through its confidential helpline: 1890-777777.