Results 17,081-17,100 of 35,756 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: If the rules are applied equally across the Union, as the witness wishes, what difference would it be if it was a national agency or a more centralised agency applying those rules and supervising their implementation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: Could it be Ireland is a wee bit more lax and has a light touch?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: There is no consumer protection organisation in financial services at European Union level. The European supervisory authorities perform this role along with the European Systemic Risk Board. Should there be a separate consumer protection organisation as part of this process? Is there any divergence of opinion between the Central Bank and the Department or is it the position similar to...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: The Central Bank carried out an assessment of the fund industry either last year or the year before that. It quantified the size of the industry for the first time and its potential impact on stability in the State. Has the risk presented by the industry increased in the meantime and has the sector experienced growth since the assessment was carried out? Are there any serious risks? We...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: Is that increasing with Brexit in the horizon? Is there an expectation that we will see far more authorisations?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: In respect of Brexit, one of the major concerns I have involves the Central Bank and the staffing profile. I will not go into that but I know the Central Bank is understaffed and has authorisation. My understanding from internal reports in terms of what it should have is that even if it was filled to the authorisation, it would still be understaffed. I understand that a major concern does...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: Go raibh maith agat. On the funding mechanism, Mr. Lardner spoke of the proposal altering the current funding model, which is the 40%-60% split. Will Mr. Lardner explain to the committee the current funding model and where is the 40% and the 60%? I take it that 40% comes from the EU budget, and 60% is from other sources. Is that from member states?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: Is that the Central Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: Does the package propose that the industry pays the 60% in the future?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: I am sorry but I have lost Mr. Casey there. Currently the funding model is 40% from the EU budget.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: Does the 60% come from the national competent authority, in Ireland's case it is the Central Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: And the industry does not pay anything
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: Does the Central Bank recoup the money for supervising the funds industry from the funds?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: How is the funds industry charged by the Central Bank of Ireland?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: Is that an annual recurring charge?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: It represents the entire industry. Does this cover the costs of regulation from the Central Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: I understand that. Is it proposed for the future that the EU part of the budget would still be 40%?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: Where would the other 60% come from?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: Is the industry already doing this through the 60% contribution? It would still be paying 100% in the future.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (28 Nov 2017)
Pearse Doherty: Yes but this is not about appropriate oversight, it is about who pays the bill at the end of the day, as raised by Mr. Lardner in page ten of his submission. It seems to me that the concern from the industry is that it will have to put their hands in their pockets a bit deeper as a result of this package.