Central Bank has fined a former Irish Nationwide director

NoRegretsCoyote

Registered User
Messages
5,766
See here:
On 10 June 2021, the Central Bank of Ireland (the Central Bank) imposed a fine of €200,000 on Mr McCollum, disqualified him from being a person concerned in the management of a Central Bank regulated financial service provider for a period of 15 years, and reprimanded him for his admitted participation in breaches of financial services law in relation to commercial lending and credit risk by Irish Nationwide Building Society (INBS) that occurred between 1 August 2004 to 30 September 2008 (the Relevant Period).

Just shy of 13 years after the period in which the breaches ended.
 
Yes, the investigation is a farce.

I went in to watch the public hearing on a few occasions.

A room full of barristers.

They stopped proceedings against Fingers because he was unwell.

The Central Bank refuses to say how much the investigation has cost so far.

As far as I know, they are still proceeding against Stan Purcell the Finance Director.

Brendan
 
Bad enough that the "ordinary taxpayer " has to pay for Fingers mismanagement of IN (and he gets away scott free), but we also have to pay for a container load of Barristers engaged in a farce of an enquiry. We must be the world leader in "Inquiries " that go nowhere (Beef Tribunal, Planning Tribunal, Anglo Inquiry etc etc).
 
Back
Top