Results 15,621-15,640 of 19,173 for speaker:Shane Ross
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: When Mr. Elderfield missed it, he came out with his hands up. They also missed it but they have been paid.
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: This fraud was discovered by Appian.
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: It was buying the mess. The people commissioned by Mr. Elderfield were appointed because the company was in turmoil. I presume they were specifically mandated to look for something like this but they appear to have failed completely. They returned what he describes as a false positive, which basically is an indication that everything was okay. Surely he should investigate a means for...
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: That is fine. I ask him to let us know what they were commissioned to do, how much they were paid, what they found and what is being done about it. Is that a reasonable request?
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: No, but I could find out.
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: I take Mr. Elderfield's point. I am unclear as to how he exercises these powers. As he will be aware, there is an extraordinary reappearance on the boards of current banks of persons from banks which have not necessarily failed - certainly from the boards of banks which have subsequently been bailed out - or persons who have been involved in failed departments or failed areas of banks....
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: I am thinking specifically, I suppose, of executives in banks who have been much identified with failures in those banks and who are popping up as non-executives on the boards of public banks. Mr. Elderfield might flag that for his successor. I have one question for Mr. Elderfield about Custom House Capital. Like many members of the committee, I have received many representations about...
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: If.
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: The first option is that the banks become profitable, which is an aspiration. I agree with Mr. Elderfield that Bank of Ireland obviously is the best prospect in that regard. While AIB may or may not become profitable, does Mr. Elderfield think we must rely on ESM for recapitalisation otherwise?
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: To some extent, is that not putting off the evil day? It is kicking the can down the road by stating one will recapitalise when one has the money rather than when one needs to.
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: Yes. What is Mr. Elderfield assuming in terms of legacy debt from the ESM?
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: When the Central Bank makes forecasts or provisions, does it not come into that?
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: May I ask Mr. Elderfield specifically about a number of issues? In respect of fitness and probity, what procedures does the Financial Regulator put up for appointing or allowing and giving a certificate of fitness and probity to people who are made directors of banks?
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: To interrupt, is that for executives, rather than directors?
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: Does Mr. Elderfield conduct these interviews himself or is there a panel?
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: Has the Financial Regulator turned anyone down?
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: How many people is that?
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: Some 93 people have withdrawn.
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: These are not people who have been turned down by the Financial Regulator, are they? They are people who simply have withdrawn.
- Public Accounts Committee: Special Report No. 72 of the Comptroller and Auditor General: Financial Regulator (Resumed) (13 Jun 2013)
Shane Ross: So the Financial Regulator has not actually barred anyone at any stage. It has not ever said "No".