Richard Bruton (Dublin North Central, Fine Gael)

Does the Minister of State believe it would be useful to have a rapid probity check within AIB, carried out by IFSRA, which would give us assurances that the compliance systems, as of now going forward, are adequate? That is a separate issue from the necessary investigation of the malpractices that have been turned up. I would like to hear the Minister of State's view on that.

Also, after Ansbacher, Rusnak and all the other scandals, why did the Minister's regulators not ensure there was the internal compliance within AIB, and perhaps in other banks, that was necessary to highlight these sorts of problems? In 2002, the Central Bank, immediately after the Rusnak scandal, requested that such procedures be put in place. Why did the regulators not guarantee that they were robust?

In the final part of the Minister of State's reply he said there will be lessons to be learned and he hoped they will be acted upon by the Oireachtas and others. What procedure does the Minister of State propose to put in place for the unfolding of these lessons to ensure that the Oireachtas can act upon them? Will there be some formal procedure whereby this occurs?

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