I propose to take Questions Nos. 265 and 291 together.
I have outlined on more than one occasion my views and those of Government regarding the expectation that we have in relation to the conduct of the financial services sector and senior people within those organisations that are in a position of trust. The matter is an evolving situation, but at this point I note that a number of significant actions have been taken by the Regulator, by the Board of the NTMA in relation to the State's dealing with the firm in question and I am also aware of actions that the firm has now recently taken.
The Central Bank of Ireland is the independent regulator of financial service providers in Ireland. The importance of an independent regulator is widely recognised. As such they are the ones that determine what measures or actions need to be taken in relation to any potential or actual wrongdoing by regulated financial service providers. This responsibility includes the question of whether to refer any matters to other public authorities that may have a remit to investigate such matters.
Finally, it is also important to underline that Ireland has a robust and comprehensive regulatory regime, operated by an independent regulator, but that my Department continues to keep matters under review in terms of the overall legislative and policy framework. In that context, my Department is in regular contact with the Central Bank of Ireland on such matters.