Ms Derville Rowland:

I cannot make a comment on the strength of the criminal law framework in Ireland in general terms. It might be for others to have their own observations. However, I can tell the Senator what I have shared with other members, which is that a very diligent investigation was done here where the investigation teams looked at the conduct in question and they looked at what breaches have arisen as a result of that conduct. Clearly MiFID is very significant European legislation for investor protection and transparency on the market. It is very important that it is adhered to. We did not formulate the view that there were criminal reports to be made.