Oireachtas Joint and Select Committees
Thursday, 30 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Fintan Drury:
It's an interesting question. And in drawing the example of what had occurred with the regulator in Switzerland, I suppose I was trying to make the point that that initiative, and it was a relative to ... I mean relative to what we're dealing with here it was a relatively small issue, the details of which I don't remember. But the regulator in Switzerland immediately made contact with a non-executive director of the board and elevated it to that point. I think that the letters that we didn't see, or the correspondence - and I presume there's more than one letter but certainly the letter that you shared with me, I hadn't seen before. That letter I would have thought two things. One, when it landed wherever it landed in Anglo it should have been cc'd ... it should have been copied to the risk committee and I would have thought the other observation I'd make is that it should have been in the letter, it should have stated that we expect the board to be made aware of this.
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