Oireachtas Joint and Select Committees
Tuesday, 9 March 2021
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Central Bank of Ireland: Discussion
Bernard Durkan (Kildare North, Fine Gael) | Oireachtas source
What prompted the Central Bank to become involved in such an investigation? Was there a disclosure by somebody from inside the firm or was a complaint made by an outside person or entity? If so, was it acted on? Seven years have elapsed, although it became public knowledge when the matter was brought to court. Financial services operate under licence from the Central Bank, and when they depart from the rules, presumably that licence should be withdrawn. If that is not the case, why? Did somebody at the Central Bank notify Davy to say it was out the window and it needed to explain what had gone on?
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