Dáil Éireann Debate, Tuesday - 23 June 2015
109. Deputy Peadar Tóibín asked the Minister for Finance if he is aware that there was a six-fold spike in Siteserv share trading prior to the sale of the company; that the Siteserv share register does not identify the persons who bought these shares; and if he will confirm if the Commission of Investigation into the Irish Bank Resolution Corporation will investigate these matters. [24534/15]
View answerAs the Deputy will be aware the terms of reference of the proposed Commission of Investigation in relation to IBRC include the following explicit terms of reference dealing with unusual share trading activity and information received by the Department of Finance:
"whether in respect of any transaction under investigation, any unusual share trading occurred which would give rise to an inference that inside information was improperly provided to or used by any persons, and in the event that such inference does arise whether such information was actually improperly provided or used,"
and
"in relation to each transaction under investigation, whether the Minister for Finance or his Department was kept informed where appropriate in respect of the transactions concerned, and whether he, or officials on his behalf, took appropriate steps in respect of the information provided to them."
Both Houses of the Oireachtas have approved these terms of reference. It is important that I do not interfere with or prejudice the important work to be conducted by the Commission of Investigation. In these circumstances it would be inappropriate for me to comment publicly in respect of information received in relation to the various transactions under review.
