Alan Kelly (Tipperary, Labour) | Oireachtas source

I raise the issue of the fine of €4.1 million imposed by the Central Bank of Ireland on Davy stockbrokers. While it is welcome because of the reprehensible behaviour of the executives involved, there is also a real issue of perception versus reality. I am sure the Taoiseach agrees. I refer to there being one law for the rich and one for the poor.

The Minister for Finance, Deputy Donohoe, commented on this issue this morning. I did not think he was very good. I thought he was quite weak. Why have we been waiting for two years and been dragging our feet on introducing a regime of accountability for bankers and senior executives in financial firms? It has been recommended by the Central Bank of Ireland and has been introduced in the UK. Simply put, unless it is brought in, it is highly likely that executives who act in this way in future will be able to hide behind fines imposed on their firms. That is not acceptable because it will not negate such executives taking such risks and chances again.

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