Sean Barrett (Independent) | Oireachtas source

During Mr. Carswell's discussion with Senator D'Arcy about the paragraph on commercial mortgages he referred to the compliance statements for the directors having been dropped by the Financial Regulator in 2006. I refer in this regard to page 5 of the statement. Perhaps Mr. Carswell would elaborate on what was involved in that regard? What were the compliance statements and what impact might they have had had the regulator not dropped them?