Results 3,901-3,920 of 4,810 for speaker:Liam Twomey
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)
Liam Twomey: Business funding in America is more reliant on shadow banking as opposed to the regular banks. Have problems arisen as a result?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)
Liam Twomey: Essentially, these are low-risk funds.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)
Liam Twomey: They are structured in such a way that they have low regulation and there is a low cost to running them. They also give a low return to the investor. That is essentially the way they are structured.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)
Liam Twomey: Why are we so successful in managing these funds in Ireland? What attracts the funds here?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)
Liam Twomey: Most of the money market funds in this country are very low-risk. Should we be concerned about higher risks in other areas of shadow banking? Reference was made to the connection between some of these funds and the larger banks. Is there a concern about the ratio of the deposits in these banks to the money passing through the less regulated shadow banking sector?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)
Liam Twomey: A former member of this committee constantly reminded us of the problem of rehypothecation. Is this linked to shadow banking? Mr. Carrigan must have heard about it, given that we have heard it on at least 20 occasions. We thought the former member had extended his expertise to the Central Bank, but he must have not done so.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)
Liam Twomey: Is Mr. Gilvarry saying regulations governing shadow banking and rehypothecation have been strengthened significantly internationally?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)
Liam Twomey: The approach we have to regulation is a balancing act. That has been discussed by Deputy Boyd Barrett in the context of prudential matters. We should also point out that funding is cheaper and the economy referred to is one of the wealthiest in the world. None of us wants to go back to bowler hats and pinstripe suits and all of the restrictions that used to exist, which were not good for...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals (4 Jun 2014)
Liam Twomey: That was for Deputy Boyd Barrett, who hankers for the good old days. People will have to turn up next time in pinstripe suits.
- Social Welfare and Pensions Bill 2014: Second Stage (Resumed) (5 Jun 2014)
Liam Twomey: The next speaker is Deputy Finian McGrath, who is sharing time Deputies Mattie McGrath and Boyd Barrett.
- Social Welfare and Pensions Bill 2014: Second Stage (Resumed) (5 Jun 2014)
Liam Twomey: Deputy Harrington is sharing time with Deputies Lawlor and Kyne.
- Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Reform of Global System of Corporation Tax: EU Commission and KPMG (11 Jun 2014)
Liam Twomey: Yes, with Deputy Murphy. Regarding the discussion on the appropriateness of current transfer pricing standards, to paraphrase Mr. Lynch, will he elaborate on that issue? When people assert that something is complicated, it sometimes means that it is open to interpretation and, as such, jurisdictions' taxation authorities can view them differently. Are these standards reasonably...
- Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Reform of Global System of Corporation Tax: EU Commission and KPMG (11 Jun 2014)
Liam Twomey: I thank Mr. Lynch. I ask the same question of Mr. Kermode.
- Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Reform of Global System of Corporation Tax: EU Commission and KPMG (11 Jun 2014)
Liam Twomey: Is the concept of arbitration currently in practice?
- Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Reform of Global System of Corporation Tax: EU Commission and KPMG (11 Jun 2014)
Liam Twomey: That is interesting. The Commission's investigations boil down to the question of transfer pricing standards, yet the witnesses are saying that there are basically no standards or that they can be open to interpretation.
- Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Reform of Global System of Corporation Tax: EU Commission and KPMG (11 Jun 2014)
Liam Twomey: The Deputy can come back in later. I want to give everybody an opportunity to get in once before 4 p.m.
- Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Reform of Global System of Corporation Tax: EU Commission and KPMG (11 Jun 2014)
Liam Twomey: The Deputy should refrain from mentioning any person or body.
- Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Reform of Global System of Corporation Tax: EU Commission and KPMG (11 Jun 2014)
Liam Twomey: I am reminding the Deputy of a committee ruling.
- Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Reform of Global System of Corporation Tax: EU Commission and KPMG (11 Jun 2014)
Liam Twomey: The same rule applies to Deputy Dara Murphy, whom I also ask to refrain from interrupting.
- Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Reform of Global System of Corporation Tax: EU Commission and KPMG (11 Jun 2014)
Liam Twomey: Deputy Murphy please refrain from interrupting.