81 Deputy John Paul Phelan asked the Minister for Finance the persons or groups responsible for ensuring compliance with statutory and code of practice regulation of banks and other financial institutions; if he will confirm whether the Governor of the Central Bank and the Financial Regulator have written contracts of employment with clear performance related conditions; within that contract, is there a code of practice or some other integral element of their contracts and conditions; did the most recent Financial Regulators and Governors of the Bank of Ireland have written contracts of employment; if he will further confirm if the performances of the two most recent holders of those offices raise questions about whether the persons involved failed to honour those contracts; are directors of financial institutions, including banks, subject to compliance with the same legal obligations as directors of non-banking companies such as legal structures relating to reckless trading and personal liability; and the reason that the Central Bank of Ireland is now being advertised as a supervisory body as opposed to the Financial Regulator, which was until recently. [40666/11]

Summary

81 Deputy John Paul Phelan asked the Minister for Finance the persons or groups responsible for ensuring compliance with statutory and code of practice regulation of banks and other financial institutions; if he will confirm whether the Governor of the Central Bank and the Financial Regulator have written contracts of employment with clear performance related conditions; within that contract, is there a code of practice or some other integral element of their contracts and conditions; did the most recent Financial Regulators and Governors of the Bank of Ireland have written contracts of employment; if he will further confirm if the performances of the two most recent holders of those offices raise questions about whether the persons involved failed to honour those contracts; are directors of financial institutions, including banks, subject to compliance with the same legal obligations as directors of non-banking companies such as legal structures relating to reckless trading and personal liability; and the reason that the Central Bank of Ireland is now being advertised as a supervisory body as opposed to the Financial Regulator, which was until recently. [40666/11]

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• Banking Sector Regulation

  xml · EN · 15 December 2011

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