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:

At this stage, I have exceeded the statute of limitations on employment tribunals because there has been no sanction by the Central Bank. Had there been a sanction by the Central Bank, I would have been able to go to the employment tribunal and say that no employee can be forced to commit a crime - here I am having been forced to commit a crime and sign over repeated crimes. As I said earlier, every day is a crime and every breach is a crime in its own right. The Central Bank admitted to me at our meeting that it had sight of other breaches that had gone unreported, that is, it had seen other crimes during my tenure at UniCredit. An employee cannot be forced to commit a crime. Therefore, I had no choice but to resign and I should be entitled to receive compensation from the bank and the Central Bank for its failure to do its job as the policeman of banks in Ireland.

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