Pearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

210. To ask the Minister for Finance the position regarding any security and exchange commission filing irregularities by Allied Irish Bank in the United States. [34259/13]

Pearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

211. To ask the Minister for Finance the nature of any security and exchange commission filing irregularities by Allied Irish Banks in the United States. [34260/13]

Pearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

212. To ask the Minister for Finance if there is any connection between the resignation in April of a person (details supplied) of the Irish Central Bank and any issues that arose regarding security and exchange commission filing irregularities by Allied Irish Banks in the United States. [34261/13]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 210 to 212, inclusive together.

I have been informed by AIB that there have been no SEC filing irregularities by AIB. I have also been informed by AIB that in light of the reforms introduced in the United States by the Sarbanes-Oxley Act, the SEC is actually “required” to periodically review the filings of all reporting companies, including AIB. This review process typically results in one or more comment letters from the SEC staff requesting information that helps them better understand the disclosures made and/or requiring or suggesting ways to improve disclosures in the future.

Correspondence between AIB and the SEC staff in regard to the filing of AIB's Annual Report on Form 20-F for the year ended 2011 can be located on the SEC website (see link below). AIB have informed me that, although enhanced disclosures and further information were requested and agreed to by AIB, a review of correspondence that the SEC has published in relation to companies would highlight that the comments made in relation to AIB have not been materially more or less detailed or burdensome than those made by the staff in relation to most other European banks which have filed reports with the SEC in recent years. Furthermore, there has been no suggestion of any filing irregularities in the correspondence between AIB and the SEC.

I have also been informed by the Central Bank that there is no connection between the events outlined by the Deputy.