Seanad debates

Thursday, 27 June 2013

Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage

 

11:30 am

Photo of John GilroyJohn Gilroy (Labour) | Oireachtas source

I have a specific question on this section. There was a peculiar case in 2007 where a whistleblower in UniCredit Bank in the IFSC allegedly reported alleged breaches of liquidity ratios. However, when he pursued it, it was discovered that, as the person responsible for ensuring the liquidity ratios were as they were, he, himself, faced criminal sanction. Will this section remove such a paradox in the legal system?

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