Mick Wallace (Wexford, Independent)
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108. To ask the Minister for Finance if his attention has been drawn to leaked documents consisting of thousands of emails, internal memos, and policy documents revealed to media organisations (detail supplied) and published by the organisations on 10 October 2016; his views on the validity and independence of reviews based on the leaked documents; his further views on the matter considering the number of Irish SMEs affected; and if he will make a statement on the matter. [38401/16]

Michael Noonan (Limerick City, Fine Gael)
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As I have previously answered, Ulster Bank Ireland Limited undertook an independent review into the relevance of these allegations to its corresponding division, namely the Global Restructuring Group Ireland (GRGI).  On the 19th December 2014, Ulster Bank published the findings of the independent review by Mahon Hayes Curran into practices at GRGI.  The investigation found no evidence to support the allegations and suggested that GRGI's driving policy was to manage its customers through the cycle, supporting them where possible to return them to viability.

However, it should be noted that Royal Bank of Scotland has indicated publically that 'For SME customers of Ulster Bank in the Republic of Ireland that were in GRG during the period 2008-2013, we are working to see how we can apply the same support where appropriate. SME customers of Ulster Bank in the Republic of Ireland can contact the CRG Customer Helpdesk if they have any queries'.

The Central Bank is the statutory body with responsibility for the investigation of any such allegations in an Irish context and I consider this as a matter properly for the Central Bank.  I am confident that legislative changes since the financial crisis have equipped the Central Bank with an array of investigative, regulatory and enforcement powers to ensure that regulated financial service providers adhere to the requirements of financial services legislation. 

These changes include significantly enhanced powers for the Central Bank to gather information under the Central Bank (Supervision and Enforcement) Act 2013 which broadened the Banks' information gathering and authorised officer powers.  It is evident that the Central Bank is properly undertaking its enforcement role by the recent sizeable settlements in enforcement cases.

I am informed by the Central Bank that while they cannot comment on interactions with regulated firms, they can confirm that Ulster Bank Ireland D.A.C. is engaging with the Central Bank in relation to this matter.