Results 3,421-3,440 of 7,082 for speaker:John Paul Phelan

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: What was the nature of his resignation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: Okay. How would you characterise his period as chief executive of the Financial Regulator?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: Did you buy into yourself, personally, or was it just part of the ... I suppose it was the system that was in place at the time, admittedly, but did you ever express any reservation as somebody who was a part of that system?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: A few notes just as you were coming to the end of your opening comments there where you stated that the bank's board should follow the money and large profits would signify greater risk. When did you come to that position in light of the fact that large profits existed in financial institutions, particularly in some forms of the financial institutions, in the period in which you were working...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: I want to briefly return again to the time of Mr. Neary's departure. I asked him a question about it when he was a witness before the inquiry. I want to reference him correctly. He stated, ''An issue in relation to a corporate governance matter in a particular bank which I think reflected poorly on the authority'', was the reason for his departure. Do you have anything to ... anything...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: When you were appointed as the chief executive, what were the key issues you felt needed addressing to enhance the quality of the Financial Regulator?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: Did you advocate a more rapid clear-out of management, senior management and directors from the commercial banks in your time as acting chief executive?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: That's fair enough but I'm asking did you advocate that there should be a change of senior management at board level? That's the question I'm asking you. I'm not asking were the positions vacant or not. What was your position?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: Did you have a stated position with regard to whether there should be management clear-out at the highest level in some of the worst affected financial institutions?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: Did the staff at the regulator believe that the Central Bank should have taken a more active role in banking supervision at that time?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: Did they believe that the Central Bank should have taken a more active role? Because we, I suppose, heard evidence from previous witnesses here that the Central Bank, potentially at least, had a function that it didn't choose to take up. Was there a view within the regulator that that role should have been taken up or was it ever discussed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: I want to turn to a quote that's been given by several members of the committee to different witnesses from Shane Ross's book, The Bankers, the prologue, 26 November 2008, page 1. It's about a gathering that took place some place around St. Stephen's Green and the banking crisis: The banking crisis was at fever pitch. The nation's finances were in peril but Ireland's banking elite were...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: Do you think your attendance, now, was ill-judged?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: Do you think it was appropriate, six weeks after a bank guarantee where the taxpayer effectively, almost giving a blank cheque to financial institutions, that you in your role in the Financial Regulator should have been wining and dining with bankers from those same institutions in a hostelry not far from where we are sitting now?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: It is not a senior citizens-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: I just want to say it's not a senior citizens gathering or whatever ... a citizens information-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: You think it was absolutely appropriate that you and all of the leading bankers should have been gathered at that particular event on that evening? You don't see any conflict in that position?

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: I suppose there would be a hope, maybe, amongst the general public that regulators would do their role and bankers might have a separate role from regulators. And I want to ask you, did you have many social gatherings with leading bankers in your time working in the Financial Regulator? I'm not talking about the ploughing championships now, or other events like that. Were there other...

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: I want to be-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (10 Jun 2015)

John Paul Phelan: I want to be clear. I'm not trying to cast any aspersion but what I am, I suppose, saying is that there would be some reservation among the general public that six weeks after the guarantee that particular gathering took place in the centre of Dublin, and such-----