Friday 28 October 2016

CB won't give details of probity notices

Published 09/05/2016 | 02:30

Darren Gleeson of Nenagh
Darren Gleeson of Nenagh

The Central Bank issued its first Prohibition and Suspension notices against finance executives last year, but has declined to give any details about them for legal reasons.

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The details were contained in the Central Bank's annual report, but when asked for comment, the bank wouldn't say anything further. "Due to legal constraints we cannot provide any further information on these decisions," a spokeswoman said.

The Central Bank last week published a Prohibition Notice against All-Ireland medal-winning Tipperary hurler Darren Gleeson, of Nenagh, who had worked for a brokerage firm in the town.

The regulator said the Prohibition Notice was issued against Mr Gleeson following a Fitness and Probity investigation.

The Fitness and Probity regime was introduced as part of the effort to improve standards in the upper reaches of the finance sector in the wake of the financial crash and €64bn bank bailout.

It came into effect in December 2011 after various reports blamed poor leadership and management within banks for contributing to the crisis.

Although the Notice issued last week regarding Mr Gleeson was the first published notice, the bank issued both a Prohibition and Suspension Notice last year. But it wouldn't say when, or if, those notices will be made public.

Irish Independent

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