Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I refer to the common conduct standards under the new section 53E, and the additional conduct standards, under 53F. As part of the additional conduct standards, I ask the Minister to explain the following:

The standards referred to in section 53C(2), in the case of a person who performs a pre-approval controlled function [that is easy to understand] in relation to a regulated financial service provider or any other function by which [a] person may exercise a significant influence on the conduct of a regulated financial service provider’s affairs ...

The section continues with a list. How do we determine a person who may exercise a significant influence over the conduct of a regulated financial service provider's affairs? Are we talking about a person at board level; a person appointed at a junior level with pre-approval controlled functions; a sole shareholder; a significant shareholder; or a third party? What does that passage mean?