Oireachtas Joint and Select Committees
Thursday, 13 February 2014
Public Accounts Committee
2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 28 - Accounts of the National Treasury Management Agency
Chapter 29 - Clinical Indemnity Scheme
2012 Annual Report and Accounts - National Pensions Reserve Fund
2:30 am
Mr. John Corrigan:
We made the point at the committee that we were not entirely sure whether this was simply rogue behaviour, which it was, and that we were not sure of the extent of the failures of internal controls within State Street at a broad corporate level. What the Financial Conduct Authority report brings home is that those failures were at the very extreme end of a failure in its fiduciary responsibilities.