Dáil debates
Wednesday, 17 October 2007
Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee Stage
4:00 pm
Richard Bruton (Dublin North Central, Fine Gael)
Why, in setting out the fines and penalties due for offences, was it decided to choose a flat rate maximum penalty rather than ad valorem or based on turnover or assets? Some large financial institutions will find penalties of this nature easier to bear than others. Is there a reason fines are not somehow related to the size of the operation?
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