Oireachtas Joint and Select Committees

Thursday, 27 October 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion

9:30 am

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

We cannot call it a criminal act, but it is an act where a financial adviser misleads a client knowing that with a purchase the financial adviser will gain on every side of the product, and knowing the client who has purchased it will never be able to find out, or should never find out, should things go well, that the financial adviser is a beneficiary of both sides.