Oireachtas Joint and Select Committees

Wednesday, 22 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Fergus Murphy:

Yes, I think that the era of regulation was changing. I think the regulation around Europe and around the world was becoming more risk-based, which is something that is welcome, rather than principles-based. And, again, Senator, I would agree with you that a letter like this starts to show that evolution from a principles-based regulation to a risk-based regulation approach.

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