Ms Derville Rowland:

Because people are entrusted to run financial services firms, it really matters. It matters to the consumers and the investors. There is a very careful system of pre-approval, under which one is not entitled or permitted to take up a senior role in a financial services company unless the firm itself proposes one but then it has to be approved by the Central Bank of Ireland. So it is not simply a decision of a firm or chief operations officer, COO. Of course, it is very important to recognise their obligations that anybody who is running a business must take the responsibility for making sure that the people that they employ are fit to do the work to serve investors and consumers but there are additional safeguards. Nobody is allowed to take up a position of a senior role in financial services - there is a list of those positions and roles - without approval from the Central Bank precisely because, as the Deputy said, it is very important that the investors are protected from individuals. So the system is designed with that in mind.

Deputy, we can only name people where the law allows us to do so. Otherwise we, ourselves, would be breaking the law if we ignored those safeguards that are in place.