Results 10,961-10,980 of 26,465 for speaker:John McGuinness

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

John McGuinness: We cannot call it a criminal act, but it is an act where a financial adviser misleads a client knowing that with a purchase the financial adviser will gain on every side of the product, and knowing the client who has purchased it will never be able to find out, or should never find out, should things go well, that the financial adviser is a beneficiary of both sides.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

John McGuinness: If it is not clear-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

John McGuinness: -----and not transparent-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

John McGuinness: Does the limitation apply?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

John McGuinness: Then how does the ombudsman deal with it if the six-year rule applies and-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

John McGuinness: It just facilitates people in the business who knowingly set out, and as far as I can make out it is pretty widespread-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

John McGuinness: Nobody considers this. There is no flexibility to consider how could a client have found out when the very non-transparency of the whole thing facilitates this going on.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

John McGuinness: If the Office of the Financial Services Ombudsman were to receive a complaint outside the six year rule, would the ombudsman consider investigating it to the point where he could find out if it stood? If it was outside the six year rule, fine, he could not touch it. If there was an individual adviser or company involved that was represented by an institute of national significance, would...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

John McGuinness: I want to work out what the process is. Would the ombudsman connect with another national organisation, perhaps one representing financial advisers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

John McGuinness: Is it conduct that has only been discovered?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

John McGuinness: That is included.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

John McGuinness: That is welcome. I also welcome Mr. Joyce's comment on the limitations. Sometimes it is about how the descriptions are interpreted. The cost of challenging can then be put in front of someone, but I am glad that Mr. Deering takes the attitude that he does.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

John McGuinness: My apologies, Senator, but the point is that the legislation will not be retrospective and that it has now been almost proved throughout the State that this practice was systemic. People were sold a product without realising that for the individual adviser, bank or institution there would be ongoing benefits. There was a benefit for financial advisers, whether inside or outside banks, in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

John McGuinness: I ask Senator Horkan to take the Chair because I and other members must go the Dáil Chamber for a vote. I thank the witnesses for attending.

Written Answers — Department of Health: Tobacco Control Measures (25 Oct 2016)

John McGuinness: 397. To ask the Minister for Health his department's position relative to the suggested ban on electronic nicotine delivery systems which will be discussed at the World Health Organisation FCTC COP7 in Delhi, India, in November 2016; the names of the persons attending this meeting on behalf of the state; the brief that has been given to the Irish delegation; if the position of his department...

Written Answers — Department of Health: Health Services (25 Oct 2016)

John McGuinness: 417. To ask the Minister for Health the arrangements that were put in place by the SEHB and the HSE to manage the affairs, financial and otherwise of a person (details supplied); if a social worker was appointed in 1991; and if that arrangement continued [31615/16]

Written Answers — Department of Transport, Tourism and Sport: Transport Infrastructure Ireland Funding (25 Oct 2016)

John McGuinness: 559. To ask the Minister for Transport, Tourism and Sport if his Department or Transport Infrastructure Ireland will fund the work required to make safe the stretch of road from the M9 motorway junction 9 to Kilkenny city as safety measures or proper road safety schemes were not put in place at the time of the construction of the motorway to protect the local community from the dangers of the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Discussion (20 Oct 2016)

John McGuinness: We are now dealing with the scrutiny of the Central Bank (Variable Rate Mortgages) Bill 2016, which is Private Members' business. I welcome the Minister for Finance, Deputy Michael Noonan, Mr. John Fitzpatrick, Ms Emma Cunningham and Mr. Leonard Wall. In accordance with Standing Order 141(2), the select committee is scrutinising the provisions of this Private Members' Bill, in the name of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Discussion (20 Oct 2016)

John McGuinness: We will have the opinion of the European Central Bank before we meet representatives of the Central Bank. We will be seeking our own legal opinion on the constitutionality of the Bill. We will deal with both those items. Do members have any questions?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Discussion (20 Oct 2016)

John McGuinness: The Deputy has put his finger on it so off he goes.