Oireachtas Joint and Select Committees

Tuesday, 26 January 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Banking Sector and Central Bank of Ireland: Discussion

3:00 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

I thank Professor Lane. On 10 January I received a communication, including a protected disclosure in respect of the Central Bank, from somebody who describes himself or herself as a whistleblower. I am assuming it is the same communication Deputy Mary Lou McDonald received prior to Christmas because they sound pretty similar. Obviously, the person in question is not happy with how the protected disclosure process is proceeding but it obviously relates to a serious matter. I would like Professor Lane to tell us what is going on. As he probably knows, this person is alleging that while conducting an internal audit within the Central Bank, they were instructed to delete parts of that audit. The person consulted the professional body of which they are a member, which told them that under no circumstances should they ever suppress any findings in a report. Nonetheless, those more senior to them wanted these findings suppressed and deleted from the report. I understand that, subsequently, this person was let go from the Central Bank. That person reports further that having been let go from the Central Bank, and he obviously sees a connection with what happened in the bank, he was warned he would find it difficult to get work elsewhere in the financial sector, having made a protected disclosure against the institution. He obtained employment at another financial institution but, shortly after he lodged his case with the rights commissioner, he was also let go by his new employer, at which a former director of human resources in the Central Bank was employed.

These are pretty serious allegations. I wonder whether Professor Lane could respond, in light of the whole question of proper oversight, internal reporting, whistleblowing and so on is of enormous importance and everything that has happened and given the failings of the Central Bank during the period of the economic madness that, frankly, crashed this economy. In any event, it is a very serious matter. If Professor Lane-----

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