Oireachtas Joint and Select Committees
Thursday, 13 April 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman
10:00 am
Mr. Jonathan Sugarman:
Further than that, the Central Bank did not sanction UniCredit at all - either at the time of the 20% breach or when it went back and found further breaches. I and the barrister accompanying me wrote to the Central Bank and asked for the minutes of our meetings. I asked for permission in advance to record the meetings but this request was refused. This was puzzling to me because I was the one who was coming to do the talking. Why could I not record my own voice? The answer was no, I could not record my own voice, so we waited for the official minutes. We wrote to the Central Bank and received a letter, which is included in the items I sent to the committee, which says "case closed". There were no minutes, no nothing. Three months later, there was a headline in the Irish Independentto the effect that the regulator had remained silent. A week after that headline, all of a sudden there were minutes dated the day after the aforementioned headline appeared. First we have the meeting, then the case is closed and then, after that newspaper headline, there are minutes which bear no relevance to what actually took place at the meeting.
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