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

John McGuinness: We will move on to Mr. Sugarman's resignation. How did the bank react to that because, obviously, he was resigning over an integrity issue?

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

John McGuinness: That was going to reflect on the bank itself.

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

John McGuinness: Obviously, the bank was concerned. How did it express that concern?

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

John McGuinness: Obviously, Mr. Sugarman did not do that.

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

John McGuinness: Is there evidence of that offer?

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

John McGuinness: Mr. Sugarman is currently unemployed.

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

John McGuinness: The remark Mr. Sugarman made relating to the fact that no sanction was taken against the bank-----

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

John McGuinness: Therefore, Mr. Sugarman's legal advice is that he cannot take a case against that bank.

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

John McGuinness: Did Mr. Sugarman not think of taking a case?

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

John McGuinness: Is taking a case against the Central Bank an option for Mr. Sugarman?

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

John McGuinness: Why does Mr. Sugarman not do so?

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

John McGuinness: So this change of lifestyle and being penalised are based on the fact that Mr. Sugarman did his job.

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

John McGuinness: Could Mr. Sugarman do so? It is the intention of the committee to consider everything Mr. Sugarman had to say today. In particular, with regard to Mr. Sugarman's view on the report on the media today about the integrity of the banking system, he quoted earlier from today's paper. What does this mean in layman's language? What are the banks not doing that they should be doing?

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

John McGuinness: Does Mr. Sugarman think they are breaking the speed limit?

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

John McGuinness: The committee's question for the Central Bank is to explain these unacceptable breaches.

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

John McGuinness: The committee should write to the Central Bank on that query.

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

John McGuinness: Let us see. On the report which Mr. Sugarman made to the Garda station, am I correct that he has had no communication from the Garda since?

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

John McGuinness: As part of the recommendations of the committee we should, perhaps, seek an update on that inquiry from the Garda Commissioner.

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

John McGuinness: I apologise for interrupting the Senator but a vote has been called in the Dáil and I have to leave the meeting. Senator Horkan will take the chair. Should the meeting conclude before I return I want to reassure Mr. Sugarman that I find what he has told the committee today shocking. It is my intention to discuss with the committee what appropriate action or engagement we can have...

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

John McGuinness: I can assure Mr. Sugarman that his story has been listened to today. It is appropriate to also mention at this point all of those who support Mr. Sugarman in terms of getting through this, particularly Luke 'Ming' Flanagan who is in the Public Gallery.

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