Results 3,541-3,560 of 19,173 for speaker:Shane Ross

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: May I ask Mr. Elderfield specifically about a number of issues? In respect of fitness and probity, what procedures does the Financial Regulator put up for appointing or allowing and giving a certificate of fitness and probity to people who are made directors of banks?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: To interrupt, is that for executives, rather than directors?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: Does Mr. Elderfield conduct these interviews himself or is there a panel?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: Has the Financial Regulator turned anyone down?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: How many people is that?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: Some 93 people have withdrawn.

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: These are not people who have been turned down by the Financial Regulator, are they? They are people who simply have withdrawn.

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: So the Financial Regulator has not actually barred anyone at any stage. It has not ever said "No".

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: However, the Financial Regulator has never refused anyone.

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: How many has the Financial Regulator approved?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: Okay.

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: Did the Financial Regulator have any influence on them leaving?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: Does the Financial Regulator have the powers to remove them if it so wished? Can it send a message to the bank stating he or she should go? Can it do that?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: I take Mr. Elderfield's point. I am unclear as to how he exercises these powers. As he will be aware, there is an extraordinary reappearance on the boards of current banks of persons from banks which have not necessarily failed - certainly from the boards of banks which have subsequently been bailed out - or persons who have been involved in failed departments or failed areas of banks....

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: I am thinking specifically, I suppose, of executives in banks who have been much identified with failures in those banks and who are popping up as non-executives on the boards of public banks. Mr. Elderfield might flag that for his successor. I have one question for Mr. Elderfield about Custom House Capital. Like many members of the committee, I have received many representations about...

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: What was the false positive?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: Who was saying that?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: Did the third party report also come back with a false positive?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: That is appalling. Was the third party paid for that report?

Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)

Shane Ross: Who was the third party?