Results 10,541-10,560 of 14,090 for speaker:Marc MacSharry
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: It was internal. Okay, that's fine. In the period - and I know some of it predates yourself - records of the Financial Regulator indicate that no enforcement action was taken on any institution for regulatory breaches from 2003 to 2008. I know you only came along post-2006. Why was that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: No, no. No, sorry, I mean that very specifically to do with prudential regulation. I'm not that interested in the consumer side just for now.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: On prudential regulation specifically, was it the practice, therefore, or not, that, due to lack of resources, no action was taken?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Okay. And again not specifically to you, because obviously this was the case before your time as well, was it a policy choice, "I'm not going to go down the sanctions route on prudential regulation but I am going to go down the sanctions route on the consumer side"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: So that was kind of seventh floor department again, was it, in terms of-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: But the board-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: -----and the senior executives.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Kind of ... just this was the situation. It was kind of decided, "Look, we're going to focus more on the consumer side than the prudential regulation side".
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: But the outcome of those meetings, as you understood it, was to pursue that line, was it, or not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: So, in essence, was principle regulation, when it came to prudential regulation, like having a football match and FIFA but no referees?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Oh, okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Maybe the FAI. The FAI then.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Can I ask-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Yes. Any chance of some of Deputy Higgins' time there?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: The ... you mentioned in your statement, and I'll paraphrase somewhat but you can correct me if I'm wrong, that at times you would be dealing with an issue with a bank and, similar to the issue that was mentioned to Deputy Higgins there, that it was maybe somewhat passed off and, "Look, I'll be talking to so-and-so", perhaps on the seventh floor, or higher, your superior, I think you...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (27 May 2015)
Marc MacSharry: Yes.