Susan O'Keeffe (Labour) | Oireachtas source

At the Trinity Economic Forum in 2014, Professor Connor said that up until 2010, Irish banking regulation was the world leader in feather light regulation and at the Dublin Economics Workshop in Kenmare in 2010, he described this as the "pivotal Irish policy error". I acknowledge he has discussed some of this but given he has said the Central Bank and the Financial Regulator had the powers, how could they simultaneously be the world leader in feather light regulation?