Oireachtas Joint and Select Committees

Tuesday, 26 February 2019

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

Law Reform Commission Report on Regulatory Powers and Corporate Offences: Engagement

Photo of Paddy BurkePaddy Burke (Fine Gael) | Oireachtas source

A certain amount of risk management is in place. One of the best contributions made at this committee was by a man called Jonathan Sugarman. I asked him what his job was. He likened his job to being in charge of the cash register. Every evening, he had to have enough money in the cash register to pay everybody. If he did not, he had to go to the Central Bank or the parent body to get the money to put into the cash register to pay everybody. He left his job one evening with a letter for the Central Bank and handed it in to say that he was having problems. Nothing happened except that he lost his job. He has since been unemployable. There were certain regulations and structures to enable something to happen, but nothing happened. Can we take it that all these new proposals will be put in place such that we will not have a Jonathan Sugarman in the future?


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