Oireachtas Joint and Select Committees

Thursday, 19 October 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Engagement with the Central Bank of Ireland

9:30 am

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

I will leave it at this for the moment. The risk manager reads the legislation and the law and understands fully his obligation. He is so frightened by what is happening in the bank about not just one case one day, but a number of them, that he decides to risk his job and tell the Central Bank that there is something wrong. He went to the Garda and said that he had broken the law and told them to arrest him. He could be imprisoned for up to five years. However, nothing happened to satisfy the fact that he had reported this wrongdoing. He lost his health and he lost his job. He did it pursuant to the obligation on him under legislation to report to the Central Bank. If the Central Bank does not want these international banks that are here to bother looking at the law, why would we have the law?

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