Mr. Larry Broderick:

I will make three points to address that. I highlighted that fear is the main impediment to whistleblowing in our industry, irrespective of legal protection. It is absolutely constant. If a person is in a small branch - he or she does not know whether it will operate or function - having whistleblower protection will not help that person secure an alternative job or help him or her when that person is told he or she could be identified. The industry has experienced enormous change. While there is whistleblowing legislation in place which protects bank officials the same as everyone else, the fear is inordinate. That goes back to my point on culture and the need for external monitoring.

On the second point, on how we can regulate differently, we found over many years as a trade union that we expressed concern over certain things. This relates to the power of the institutions. Prior to the crisis, one bank said it was the best regulated and financed bank in the world. It ended up in a huge mess. Nobody challenged that. Therefore, a mechanism is required to challenge some of these statements. This is why we believe the forum could be of value.

A difficulty is that the members, no more than ourselves, are dealing with each institution in its own right. Bank of Ireland is independent and AIB is State owned. Permanent TSB is majority State owned and KBC is a foreign bank. Ulster Bank will refer to RBS on an ongoing basis. We need to have interaction not only with local management but with other managements across the board. We have this regularly.

The Senator is correct that there is legislation, but unless the issue of fear is addressed, bank officials will not speak out. There is this ongoing conflict and that is why we are very insistent that in all procedures in banks regarding discipline and grievance, there has to be external oversight. Our concern is that the banks and many employers will want an internal mechanism to deal with issues.