Oireachtas Joint and Select Committees

Thursday, 5 February 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

To conclude, I can appreciate that your new rules would have the expectation that you would have less of the behaviour that causes banks to crash and that may result in fewer penalties. Maybe I am misinterpreting what you are saying. Are you saying that the Commission is not looking at increasing the tariff, which is the penalty in terms of moving from a fine to a criminal sanction? Is that not on its agenda after what has been probably the largest financial crisis globally in modern history?

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