Oireachtas Joint and Select Committees

Wednesday, 9 July 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Collapse of Setanta Insurance: Central Bank and Department of Finance

3:40 pm

Mr. Colm Kincaid:

Whether Setanta and its directors complied with the rules that applied to Setanta as a matter of Maltese law, under the EU framework relating to Malta, is a matter for the Maltese authorities. The MFSA is carrying out a number of investigations at the moment and, as I said earlier, we will continue to engage with the authorities in Malta. They are conducting their investigations and when we get better visibility on what the outcome of those investigations is going to be, we will take stock of whether there is any further action for the Central Bank to take. The matters the Deputy is referring to are matters of Maltese law and Maltese compliance.

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