Results 5,481-5,500 of 13,254 for speaker:Seán Sherlock
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: That is 35 staff dealing with 281 credit unions.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: I thank Ms McKiernan. That is fine.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: How would the Ms McKiernan describe the nature of the relationship between her staff and individual credit unions on a day-to-day basis? Would she describe it as professional and courteous?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: Are there times when voices are raised between her staff and individual staff members of credit unions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: Have there been occasions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: Going back to the regulation-making powers, Ms McKiernan spoke about the broad class of investments and the upcoming consultation. She also referred to expectations in respect of developing new business models. During our engagements on Tuesday, we heard from credit unions that they are undertaking digital and social media based marketing on a shared basis and that they are generating new...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: As I have a short amount of time, can we keep the answers short, if that is okay? If I were to come to the Central Bank with a proposal, it would kick the tyres, but it might not necessarily come back to me saying it could be tinkered with here or there. Its role, remit and power are very clear when it comes to new proposals.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: I appreciate that. The delegates have indicated that standards of regulatory compliance are still well below those required to credibly safeguard members' funds and position credit unions to tackle business model development. They are still seeing an unacceptable number of credit unions failing to display a strategic understanding and good governance. In several cases we have encountered...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: That was said in an earlier intervention, but I need numbers. Are there "several" outliers? Do they amount to a very small minority, less than 10 or 20 of the 281 credit unions? One could easily create the impression that this refers to the majority rather than being the exception. I need to have an understanding of how many are still behind the door in getting their governance procedures...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: Indeed, but I am trying to understand how many still have a way to go in ensuring risk management, compliance and internal audit functions are robust.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: If the number is at the "higher end", Ms McKiernan should have a figure in her mind.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: What is the number today, 23 March?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: Ms McKiernan has already said that three times and does not need to repeat the point. I want to come to the issue of tiered regulation. We are being told that there is no tiered regulation, but if I understand the language used by Ms McKiernan today, she is telling us in couched terms - she can correct me if I am wrong - that there is tiered regulation in everything but name. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: Let us not couch our language. As politicians, we are used to couched language. Is Ms McKiernan saying there is de factotiering?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: Ms McKiernan has indicated that the bank has seen "no investigations of short-term or medium-term lending proposals." When did it become necessary for a credit union to obtain the registrar's permission for such proposals?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: Ms McKiernan has also stated the Central Bank has undertaken to publish enhanced guidance on what it expects to see in terms of long-term proposals. Are the guidelines inadequate or fit for purpose?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: In respect of sectoral leadership, if I was reading that as a CUDA, CUMA or ILCU member and if Ms McKiernan was telling me that there is a need, in her own words, for greater sectoral leadership and a fuller understanding of risks involved to develop a roadmap of business model development, I might take issue with that. In respect of our interactions with the sector on Tuesday, there was...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Seán Sherlock: Not all 281 common bond credit unions will come to the Registrar of Credit Unions with a set of proposals. They will work their way up through their representative organisations. I presume the articulation of development of new business will be done primarily through the representative bodies, with which Ms McKiernan engages regularly. If I understand it correctly, in a nutshell, Ms...
- Leaders' Questions (28 Mar 2017)
Seán Sherlock: Where does the buck stop on that?
- An Garda Síochána: Statements (28 Mar 2017)
Seán Sherlock: Has the Tánaiste faith in the Policing Authority? It is a simple question.