Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

We are giving it priority. Fines have been levied against companies for unacceptable behaviour. Action has been taken, for example, by the National Treasury Management Agency in dealing with the Davy matter and it demonstrates the seriousness with which the State has taken such matters, including the behaviour I condemned and which has been the subject of very heavy fines from the Central Bank with the legislation made available to it by the past three Governments.

We have very strong and robust legislation in place and the Central Bank has the ability to take action against individuals. It must also consider whether sanctions apply to the company. I have explained what is the difficulty and the delay being caused. Some of it can be explained by the fact that we were putting in place a Government across last year but that is not to justify all the delay. When the delay is resolved, we will have robust legislation to add to the strong powers already in place.

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