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

On many occasions, I have raised the issue of tied agents and AIB. I also want to raise that in the context of the Belfry investments. We had a meeting where evidence was given in relation to Belfry. It was held in private session and a whistleblower was involved. We decided to pursue the matter after we had heard the detail on the Belfry investments, including how many there actually are, how many customers were involved and whether they should get paid. The bank resisted and eventually, I presume because of the threat of public hearings before this committee, it agreed to pay some of the Belfry investors, refund them their money and compensation and so on. Has the Central Bank examined the two issues, namely, the Belfry investment funds and EBS tied agent issue? Both are an example of bad practice, which in the case of EBS continued over a 12 and a half year period. What is the Central Bank's role in both of those issues? Both would seem to be wrongdoing by the banks. As a regulator, what is the Central Bank's view on them, and what action can it take?