Oireachtas Joint and Select Committees

Wednesday, 5 October 2022

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

Politically Exposed Persons: Discussion

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

I have just found that quote from Mr. Bruen: "Refusing a business relationship with a person simply on the basis of them being a PEP is clearly contrary to the spirit of the regime." There are Members of the Dáil who have highlighted that particular aspect of this to me, and have said that when they were approached to invest in a company and went about doing it, there was no doubt created over them except that they were stopped for further scrutiny and, therefore, could not reach the deadlines for investing. Afterwards their colleagues asked them what the story was with their interest and they had to explain how they had just found out they were a politically exposed person. One of the secretaries in Leinster House, and it was not known until it happened to her, rightly told all of her colleagues that they are all politically exposed persons, and she was treated poorly by the bank. I do not think that is in the spirit of this directive, but yet that is what is happening.

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