David Cullinane (Waterford, Sinn Fein) | Oireachtas source

I will come back to it. I just want to finish on Mr. Daly's opening statement in terms of what he said and what he has put on to the record of the committee. He said that "PIMCO’s letter to the committee is materially inaccurate". That is a very strong statement to make because Mr. Daly is aware that this sale is the subject of two criminal investigations. PIMCO made him aware of the Foreign Corrupt Practices Act and that it had to be in compliance with that Act. There is also the Bribery Act 2010 in the UK. There are two criminal investigations in two jurisdictions. PIMCO is trying to helpfully present this committee with information. It would seem from what Mr. Daly is saying that PIMCO is misleading the committee, which is a very serious charge for Mr. Daly and his organisation to make against PIMCO. We will need to hear from PIMCO because it would be very interested in what Mr. Daly has to say. Mr. Daly says the letter is materially inaccurate. Given that there are criminal investigations and PIMCO is subject to the Foreign Corrupt Practices Act, to say that the information it gave was materially inaccurate is a very strong statement.

Would Mr. Daly accept that?