Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Yes, exactly. They are broader. When we start to define this, we start to allow people to slip outside the net. Let us take somebody who is head of risk in a bank and who has not carried out his or her duties as would be expected under the legislation and according to the Central Bank. That individual would be in breach and, as a result of the enactment of this legislation, would be capable of being held accountable. Would a board member or CEO of a financial institution who may be aware of this, but who does not have the responsibility as a pre-approval controlled function of risk also be held liable for this? Under the additional conduct standards, the appointment of a person without due experience and proper oversight could breach them, but we could have a situation where the person did have experience and sufficient skill and even may have oversight, yet it still happened, and the CEO was aware of it. Is there any scope in this legislation for the CEO not to be held accountable? Will the accountability stop at the more junior level?