Brendan Ryan (Labour)

In light of recent events, I do not think that any eminent trade unionist should talk too much about guilt by association.

This morning's newspaper contains the astonishing news that the finance company which was at the centre of last week's controversy is entirely unregulated. It is not subject to regulation by IFSRA, even though the committee chaired by the current Minister for Justice, Equality and Law Reform recommended that such bodies should be regulated. I would like a Minister to come before the House and explain why the Government decided not to implement a recommendation of a committee chaired by the current Minister for Justice, Equality and Law Reform. He is so eloquent in telling us — correctly in my view — what is wrong with these organisations. As I said in regard to another matter previously, there should be no area of financial activity in this country which is not subject to IFSRA. That is the only way to ensure justice for people and that large scale money laundering cannot take place.