Oireachtas Joint and Select Committees
Thursday, 12 March 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Dr. Elaine Byrne:
How it works in the US is that the award is 10% of the fines that the regulator imposes on the bank. That is how the fine is moderated. How one prevents against vexatious complaints is that if the agency that is charged with investigating the information by the whistleblower gets a conviction, then wrongdoing has occurred. I think that answers that question. That is how one regulates it. The information has to be good enough.