Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance in relation to the alleged unauthorised disclosure of information at the National Asset Management Agency by a former employee, the date on which NAMA notified the Office of the Data Protection Commissioner of the alleged unauthorised disclosure; the steps NAMA has taken to minimise the impact of the alleged unauthorised disclosure on its own operations and on those of its debtors. [40283/12]

Michael Noonan (Limerick City, Fine Gael)
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I am advised that the unauthorised disclosure was notified to the Office of the Data Protection Commissioner on 12 September 2012. I am advised also that NAMA has instituted legal proceedings against the former employee and his spouse seeking a number of reliefs, including an injunction to prevent them from using, disclosing and/or dealing with confidential information. NAMA is also seeking a number of Court Orders, including an Order directing the former employee and his spouse to provide a full account on affidavit in respect of all confidential information that either of them has removed from NAMA. This is to include the identity of all persons who have had access to the information or who have been made aware of its existence and/or contents and the identity of all persons to whom the information has been supplied. These proceedings are currently within the jurisdiction of the courts and I am therefore not in a position to discuss them further.

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance in relation to the alleged unauthorised disclosure of information at the National Asset Management Agency by a former employee, the controls National Asset Management Agency has in place to prevent a recurrence of the alleged unauthorised disclosure of information. [40284/12]

Michael Noonan (Limerick City, Fine Gael)
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I am advised that NAMA employs a wide range of measures to prevent unauthorised disclosure of confidential data. These include practical measures such as the deployment of email monitoring technology to prevent email attachments from being forwarded to personal and non-corporate email accounts. IT controls also ensure that data cannot be saved from the NTMA network onto external storage devices, such as USB keys, CDs, etc. I am advised that the Board of NAMA is currently reviewing the findings of a recent investigation by Deloitte and, as part of that review, will assess the implications in terms of NAMA’s current data control procedures.

Employees assigned by NTMA to NAMA are bound by a number of statutory obligations in respect of the confidentiality of information to which they have access by virtue of their employment by NAMA. These include obligations imposed under Section 14 (1) of the National Treasury Management Agency Act 1990 and under Section 202 of the NAMA Act 2009. NAMA staff are also subject to the provisions of the Official Secrets Act 1963. Contravention of these statutory obligations constitutes criminal offences and, under Section 7 of the NAMA Act, a person who commits such offences may be liable to a substantial fine or term of imprisonment or both.

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance in relation to the alleged unauthorised disclosure of information at the National Asset Management Agency by a former employee, the date on which NAMA notified An Garda Síochána; and if statements have been provided to the Gardaí by NAMA; and if so, the number of same. [40285/12]

Michael Noonan (Limerick City, Fine Gael)
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I am advised that the unauthorised disclosure was notified to An Garda Síochána on 12 September 2012 and that NAMA has provided, and will continue to provide, all information required by the Gardaí as part of their investigation.

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance in relation to the alleged unauthorised disclosure of information at the National Asset Management Agency by a former employee, the steps NAMA has taken to ensure that no potential purchaser of assets associated with its loans, derives any advantage over competing purchasers as a result of obtaining unauthorised commercially sensitive information in relation to NAMA loans. [40286/12]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by NAMA that it has instituted proceedings in the High Court against the former employee and his spouse seeking a number of reliefs, including an Order directing the former employee and his spouse to provide a full account on affidavit in respect of all confidential information that either of them has removed from NAMA, including the identity of all persons who have had access to the information or who have been made aware of its existence and/or contents and the identity of all persons to whom the information has been supplied. These proceedings are currently within the jurisdiction of the High Court. NAMA has also sought orders against any of the identified third party recipients.

I am advised that the sale of assets by NAMA debtors and receivers are conducted in line with NAMA Board guidelines, a requirement of which is that disposals are conducted on a competitive basis in accordance with prevailing market practices for the asset class and jurisdiction to which the sale relates. The guidelines require that sales agents prepare a final report and recommendation addressed to the debtor and copied to NAMA, including a summary of the marketing campaign, a list of all parties who expressed interest in acquiring the asset or were contacted during the marketing campaign and a recommendation as to the best price that is reasonably obtainable for the asset.

I am also advised that, in the case of the sale of loans or loan portfolios, it is common practice for NAMA and other loan vendors to establish data rooms which provide extensive information to potential purchasers on loans which are being made available for sale and on the collateral securing them. Potential purchasers must sign non-disclosure agreements before they are allowed to have access to such data. All potential purchasers of NAMA loans have access to the same information for any loan sales transactions being contemplated

While the review of the unauthorised documentation is still on-going, I am advised by NAMA that the level of information available to potential purchasers is significantly more detailed than any information that might have been included in the recent unauthorised disclosure of data by a former employee of NAMA. Therefore, NAMA does not anticipate that the recent unauthorised disclosure will have a material impact on the prices realised on its loan sales.

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance in relation to the alleged unauthorised disclosure of information at the National Asset Management Agency by a former employee, if his attention has been drawn to any investigation of the matter at Ernst and Young; when such investigation was initiated; the terms of reference of any investigation; the status and results of any investigation; and the involvement of NAMA in any investigation. [40287/12]

Michael Noonan (Limerick City, Fine Gael)
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The deputy may be aware that at the request of NAMA, Ernst and Young initiated their own investigation into this matter; as this inquiry is ongoing it would therefore not be appropriate for me to comment further. However, I understand that there has been full co-operation between NAMA and Ernst and Young in the investigation of this matter.

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance in relation to the alleged unauthorised disclosure of information at the National Asset Management Agency by a former employee, the controls NAMA has in place to ensure that the provision of loan advisory services by Ernst and Young is not compromised as a result of the alleged unauthorised disclosure of information. [40288/12]

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance in relation to the alleged unauthorised disclosure of information at the National Asset Management Agency by a former employee, the number, original book value, sales status, sales value, sale completion dates of loan portfolios that in relation to which NAMA has engaged Ernst and Young to provide loan advisory services. [40289/12]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 107 and 108 together.

I understand that there has been full co-operation between NAMA and Ernst and Young in the investigation of this matter.

More specifically to your question, I am advised by NAMA that it has not to date deployed the firm of Ernst & Young as an adviser on potential loan sales transactions.

NAMA further advises that when making an appointment from the loan sales advisory panel, it is normal practice to invite three firms from the framework panel to participate in a mini-tender so as to minimise the transaction cost to NAMA. Before receiving any detailed information relating to the particular transaction involved, firms are required to confirm that they have no conflict of interest. A breach by any firm under this requirement would result in that firm’s disqualification from future assignments awarded by NAMA and would clearly give rise to significant reputational issues for the firm concerned.

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance in relation to the alleged unauthorised disclosure of information at the National Asset Management Agency by a former employee, the number of companies to which Ernst and Young has been appointed as receivers at the behest of NAMA. [40290/12]

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance in relation to the alleged unauthorised disclosure of information at the National Asset Management Agency by a former employee, if he will provide the value of disposals made by Ernst and Young of assets to which NAMA had that company appointed as receiver. [40291/12]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 109 and 110 together.

I am advised by NAMA that it has appointed Ernst & Young as receiver to 18 separate corporate entities across four NAMA debtor connections. I am advised that, to date, no asset realisations have taken place under these appointments. I understand that Ernst and Young was appointed by a syndicate of banks asadministrator to Battersea power station and that NAMA recovered full debt through the sale of this asset.