Results 7,801-7,820 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: 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...

Health (Amendment) Bill 2017: Committee and Remaining Stages (22 Mar 2017)

Seán Sherlock: The Minister of State's position is contradictory. I tabled Parliamentary Question No. 254 on 2 February. Effectively, I asked whether all pregnant women in Ireland had access to a foetal anomaly scan and for the number of foetal anomaly scans relative to actual births for every individual maternity unit in the State for the years 2015 and 2016 in tabular form. I will cite the HSE's...

Health (Amendment) Bill 2017: Committee and Remaining Stages (22 Mar 2017)

Seán Sherlock: I wish to speak to section 5, le do thoil.

Health (Amendment) Bill 2017: Committee and Remaining Stages (22 Mar 2017)

Seán Sherlock: I received correspondence from the Ceann Comhairle. I had proposed an amendment to section 70 of the Health Act 1970 and I will refer specifically to that section. My proposed amendment related to screening tests for foetal anomalies. The original wording going back to 1970 was that "A health board shall make arrangements for carrying out tests on persons without charge, for the purpose of...

Committee on Public Petitions: Engagement with Financial Services Ombudsman (22 Mar 2017)

Seán Sherlock: The next item on our agenda is an engagement with the Financial Services Ombudsman. Before we begin, I remind members, witnesses and those in the Visitors Gallery to switch off their mobile phones. I welcome Mr. Ger Deering, the Financial Services Ombudsman and Ms Elaine Cassidy, deputy Financial Services Ombudsman. I thank them for coming before the committee. The Joint Committee on...

Committee on Public Petitions: Engagement with Financial Services Ombudsman (22 Mar 2017)

Seán Sherlock: The Senator has the floor. She can take that forward in the context of the Bill she is proposing on another day but my instinct is to give people the floor and as much time as they need.

Committee on Public Petitions: Engagement with Financial Services Ombudsman (22 Mar 2017)

Seán Sherlock: I have one or two questions. What was the total number of complaints in 2016?

Committee on Public Petitions: Engagement with Financial Services Ombudsman (22 Mar 2017)

Seán Sherlock: So 2,491 were resolved. Have complainants the right to legal representation?