Oireachtas Joint and Select Committees

Thursday, 9 July 2015

Public Accounts Committee

National Asset Management Agency: Financial Statements 2014

9:30 am

Mr. Brendan McDonagh:

No. It is part of most investment committee or credit committee approvals. They look for sign off from various departments and their function. There is sign off by the people promoting the deal, who are the front office people. Then they look for sign off probably from their legal department. These funds probably look for a sign off from their compliance department. We understand that it went to a compliance department, then the compliance department raised - because they do their research - a flag that one of the parties involved, one of the parties getting the fees, could have potential issues for them because they recognise-----

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