Results 10,321-10,340 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: Three years, sorry, yes. He was mentioning to us how difficult he found it to get his dissenting voice and points of view to the board level. He stated, that in his view, this was down to the political and property interests at the board. In your experience, at the board, did you feel there were political or property interests promoting an agenda, or suppressing another agenda?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: Thanks for being here. The Financial Regulator proposed a number of initiatives to impose more explicit requirements on banks, such as the directors' compliance statements, corporate governance guidelines, and the fit and proper requirements. These proposals were not ... they were not fully successful. What was your view of these initiatives, and can you describe the circumstances in which...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: -----the original proposal for these initiatives?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: Let's take directors' compliance statements - what would be in a directors' compliance statement?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: And what were IBEC saying?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: You had mentioned them.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: But why were they saying it? I mean ... you know ... okay, it shouldn't be done. There was a lot of people saying this, there was lobbying but what were they saying? We shouldn't do this because ... why?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: Did you feel these were bogus or valid concerns?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: Okay. Did you ask that your own authority members would have a compliance statement themselves?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: Okay. You mentioned, perhaps with Deputy Doherty earlier on but certainly with some of the previous questioners, that there was a huge amount of interaction as you went about your business in your role with all the other executives, whether they were in the Central Bank or the regulator. Everybody knew each other. They were there on the seventh floor and you had a small office there....
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: Do you ever recall any interactions where he was a dissenting voice for the policy or direction?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: Okay. And you wouldn't be aware or are you aware of any attempts by him to get stuff before the board of the authority overall?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: Do you think it's reasonable or not that an executive at the kind of level of director general or deputy director general or chief economist would have difficulty in getting concerns before the board?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: So do you feel that if there were dissenting voices coming from some of these senior executive positions, but not just on the board, were saying things like, ''We need to reel in the banks' lending policies'', would that kind of information have been suppressed or prevented from getting to board level because, for example, it might spook the horses?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: Yes, I mean is it ... do you think that that's-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: It's likely.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: So do you feel then that the directors of the overall authority ... you were the chairman of the ... the regulator but you were also a board member of the overall authority. Do you feel that information was kept from you for fear that you might determine something that might spook the horses?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (11 Jun 2015)
Marc MacSharry: But with the benefit of hindsight now, are you saying that?