Regina Doherty (Meath East, Fine Gael) | Oireachtas source

Is Mr. Sheridan really of the view that the regulator acted in the best interest of Irish policyholders in this matter? The Central Bank was given information by a third-party source in September, which source Mr. Sheridan is not willing to share us, that there were irregularities in this company. When the bank undertook to investigate the matter its fears were confirmed and it reported its findings back to the regulator in Malta. However, it failed to protect the 75,000 people who are now out of pocket and prevent the €35 million in losses that arose from this company going into liquidation. It is very difficult to accept that we were acting in the best interest of Irish policyholders by keeping this information, which the Central Bank had since last September, from them.