John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

I want to turn to Vol. 1, page 29, of your own evidence books. It should come up on the screen in front of you. It's evidence given by Professor Honohan on the issue of directors' compliance statements for the commercial banks ... the Financial Regulator made initiatives regarding directors' compliance statements and fit and proper requirements and they were either delayed and mitigated or not implemented. For example, it's noted in the Honohan report that you felt it was important to assess competitiveness issues rather than go ahead and implement the proposal. Do you think that, during your tenure as Minister for Finance, you gave sufficient backing to the regulator on that initiative?