Results 2,261-2,280 of 6,295 for speaker:Michael D'Arcy

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: The breach of 20% of liquidity-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: I am trying to understand whether it was possible for somebody in a financial institution to say "No".

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: To state the institution was beyond its limits and to state he or she would not sanction it and that the institution was at 24% of liquidity. Could any individual have said "Stop"?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: Mr. Sugarman's role is to observe and notify somebody else.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: Okay.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: It is not the role of the risk manager in Mr. Sugarman's institution, UniCredit, and in other institutions to say "No". That is not the role.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: Okay. Mr. Sugarman did this and has outlined it. To go back to the Financial Regulator, did Mr. Sugarman meet the senior personnel in financial regulation in Ireland? Patrick Neary was the Financial Regulator in the Central Bank. Did Mr. Sugarman ever meet him?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: Who were the people he met?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: I am asking Mr. Sugarman. He can tell us. He is under privilege.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: Yes, you are under privilege.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: You are.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: Who did Mr. Sugarman meet when he reported his information to the Financial Regulator?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: Which office within the Financial Regulator or the Central Bank did Mr. Sugarman met?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: I am sure the Chairman can make that available to me afterwards. We are a decade down the line with regard to the Irish banking sector and the crisis that happened. Mr. Sugarman is a senior risk manager.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: Mr. Sugarman used to be.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: I can understand that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: With regard to the structures in the Irish banking sector, Irish banking groups and financial regulation at present, which Mr. Sugarman's experience and knowledge allow him to understand better than most, is he satisfied the structures in place today can prevent this disaster occurring again?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: Are those issues, to Mr. Sugarman’s knowledge-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: The potential liability for the Irish State is with Irish banks. The bulk of the IFSC have parent companies that are domiciled elsewhere. I am breaking it into the Irish banks' lending trade the length and breadth of the country and the IFSC. Are either or both of them correctly constituted so that this will not happen again?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking and Financial Regulation: Discussion with Mr. Jonathan Sugarman (13 Apr 2017)

Michael D'Arcy: What are primary areas where Mr. Sugarman sees they are not correctly constituted?