Oireachtas Joint and Select Committees

Thursday, 23 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Donal Forde:

There were rules in the ... there was a rule that we had a very rigorous conflict of interest policy. So I guess the judgment to be applied in that case was whether somebody, through activities like that, was conflicted in terms of what they were doing for AIB. And that conflict could arise in one of two ways: that they had an interest in one of the cases, and I was never aware of any such instance, or alternatively that they were active in some fashion in the market place in a manner that might've compromised one of the cases. There wasn't ... Never was there any evidence that that had happened. I do know there was some discomfort when one or two individuals, as I've said that I've acknowledged, but ... but, and that was the topic of some discussion, but I think we were always satisfied that they were not doing anything that conflicted in any way with the business of the bank. And, I guess there was a view that the knowledge and intimacy, I suppose, that they had with the market place, was actually of quite a benefit to us in the sense of knowing the nuances of the market, having credibility in standing in the market, so ...

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