Results 12,121-12,140 of 26,053 for speaker:Kieran O'Donnell

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: Will the Minister of State clarify the position?

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: Senator Conway-Walsh can speak to the substantive point of the amendment then.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: The Senator was a bit slow on the draw there.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: I welcome the amendment. This issue of the six-year rule has come up repeatedly over a long number of years. Paragraph (b) of the amendment, which deals with the matter of life assurance, provides clarity in respect of any ambiguity surrounding the issues. I note the Government Bill is due to come forth as well and that identical amendments were tabled. This is all about what is best for...

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: We hear about the Financial Services Ombudsman, FSO, quite regularly. I feel that much of the information that goes to the ombudsman is incomplete. Putting a more formal structure in place regarding mediation would be helpful. It would put the onus back onto the provider of the financial product to engage in a meaningful manner. Some cases cannot be resolved by mediation, but it may give...

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: Sinn Féin will make its own decisions, but is there merit in withdrawing the amendment pending the discussions taking place with the Minister on the amendment on Report Stage?

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: Is some of this work not already done? Has it not already been looked at by the Financial Services Ombudsman's council?

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: I understand the import of Senator Horkan's argument. The purpose of the mechanism provided for dispute resolution by the Financial Services Ombudsman is to offer a low-cost service to ordinary consumers who wish to have a matter resolved as quickly as possible. Oral hearings invariably take a long time and can be costly. In routine cases, the ombudsman has the skill sets to examine the...

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Kieran O'Donnell: In terms of legal fair play, I suppose the issue is that if the complainant can seek an oral hearing, I suspect the Financial Services Ombudsman can do likewise. When an oral hearing is requested, I am not certain of the legal obligation on the Financial Services Ombudsman to give a reason as to why such a request is not acceded to. Perhaps that is something that could be examined in the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: ECOFIN Meeting: Minister for Finance (6 Jul 2017)

Kieran O'Donnell: I welcome the Minister and his colleagues. I wish him well in his new combined role. In the context of the issue of non-performing loans, the Minister indicated that there are some concerns in regard to specific elements of the proposal, such as that restructuring activities will be disincentivised in favour of forced loan sales. KPMG is currently conducting due diligence on AIB's loan...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: ECOFIN Meeting: Minister for Finance (6 Jul 2017)

Kieran O'Donnell: The issue of the timeframe relating to the restructuring of non-performing loans in Ireland is coming down the tracks. I fully accept and recognise that the public flotation of AIB shares was very welcome but many individuals with bank loans - including those with small business, farm and buy-to-let loans and, in particular, home loans - have come to members with concerns. The public knows...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: ECOFIN Meeting: Minister for Finance (6 Jul 2017)

Kieran O'Donnell: I accept that. The element of uncertainty in terms of banks and the public is where problems arise in the context of discerning exactly what will happen. That has been seen in other institutions. I welcome that the Minister is open to exploring various routes to deal with these issues. Can the Minister indicate whether discussions are taking place at European level in terms of allowing a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: ECOFIN Meeting: Minister for Finance (6 Jul 2017)

Kieran O'Donnell: The Minister will appreciate that we are coming off a very low base in terms of capital; it virtually went off a cliff. I completely agree with the Minister in terms of the delivery of projects, and that is about ensuring that a proper cost-benefit analysis is done upfront, which was not done of many projects in the past. Capital investment for our country is hugely important, as is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: ECOFIN Meeting: Minister for Finance (6 Jul 2017)

Kieran O'Donnell: I accept that, yes.

Seanad: Commencement Matters: Road Projects (11 Jul 2017)

Kieran O'Donnell: The Cathaoirleach might let me know when I am coming to the end of my time.

Seanad: Commencement Matters: Road Projects (11 Jul 2017)

Kieran O'Donnell: I welcome the Minister of State, Deputy D'Arcy, to the Chamber again. This issue is in connection with the mid-term review of the national capital investment plan. It is an issue I feel very strongly about. The review took place in the month of April. More particularly, at that time I held a public information meeting in the Great National South Court Hotel, Raheen, in Limerick city, on...

Seanad: Commencement Matters: Road Projects (11 Jul 2017)

Kieran O'Donnell: Does the Minister of State expect the review to take place before the announcement of the budget in October? If so, will it happen in September? Is the Government looking at various funding mechanisms for capital projects such as European Investment Bank funding? Will he outline the discussions taking place in that regard? How important is a project of the magnitude of the M20...

Seanad: Order of Business (11 Jul 2017)

Kieran O'Donnell: I want to raise the issue of motor insurance and Setanta Insurance. At the finance committee, of which I am a member, I asked that we seek the liquidators of Setanta Insurance to come before the committee. I believe there is a general worry and legitimate concern that many of the insurance companies have already factored the whole issue of Setanta into their pricing over the last year. It...

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Report and Final Stages (11 Jul 2017)

Kieran O'Donnell: Tomorrow at 10.30 a.m.

Seanad: Order of Business (12 Jul 2017)

Kieran O'Donnell: Yesterday, I raised the issue of the M20 Limerick to Cork motorway. Since then, the chambers of commerce in Limerick and Cork have reported on the findings of an Indecon study and a RED C poll in regard to the merits of this project. The Indecon report makes a number of key findings, including that if the project goes ahead approximately 5,400 jobs could be created; the number of accidents...