Oireachtas Joint and Select Committees

Wednesday, 2 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Michael Fingleton:

It would be advised to the board. We would ... I would deal with ... I had the authority to deal with all elements within that function in the society, and it was not a materiative function - it was an administrative function, an ongoing administrative function - and we were dealing with the regulator in his capacity as regulator on an ongoing basis. That was it. We got legal advice that we were supposed to get, and also Dr. ... well, I'm not going to get into a dispute with Dr. Power, but Dr. Power was at a meeting when this was discussed by the management and all the management around the table. And secondly, I do not accept that Dr. Power resigned because of that. He resigned because there was a conflict of interest between his appointment as ... as chairman of the ombuds-committee and as a director of the society.

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