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

4:10 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

If this committee is going to come out with useful recommendations, I put it to Mr. Sheridan that a simple thing we could learn where companies are doing there business here while being licensed elsewhere is to look at them straight away. Is that not an obvious conclusion to draw? We should go straight in and start looking at those companies and ring the alarm bells with the regulatory authorities in the countries in which they are licensed. If it does not add up that they are licensed in one place and doing all their business here, should we not do that immediately?

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