Saturday 24 February 2018

Ex-regulator Neary agrees to appear at bank inquiry

Philip Ryan

Philip Ryan

FORMER Financial Regulator Patrick Neary has agreed to appear before the Oireachtas Banking Inquiry.

Mr Neary - who was at the helm of the regulator through the Celtic Tigers years - is among the second wave of witnesses to face the inquiry.

Former Central Bank Governor John Hurley will also appear at a hearing in the coming months.

The second phase of the committee hearings will also see senior figures from the banking sector give evidence.

Former AIB chief executive Eugene Sheehy and the bank's former chairman Dermot Gleeson are both due to appear.

Both stepped down from the lender following the collapse of the economy.

Former Bank of Ireland CEO Brian Goggin will also appear, as will the current chief executive Richie Boucher.

In a statement, Banking Inquiry chairman Ciaran Lynch said the next phase of hearings will begin on April 22 and finish in September.

In total, 50 witnesses from the world of banking and financial regulation have been invited.

"Today the Committee agreed and signed off on the third tranche of witnesses for the 'Nexus Phase' of hearings which are scheduled to start in April. This tranche will comprise central bankers and regulators. The notification includes the name, role, line of inquiry and proposed date for the hearing," Mr Lynch said.

"This phase of our hearings will include a move to compelling witnesses and statements and the use of evidence. Under the witness management protocol, there will be a structured witness engagement with a seven week lead-in between the notification and the public hearing," he added.

Former President of the European Central Bank Jean-Claude Trichet has agreed to engage with the inquiry at an Institute for International and European Affairs (IIEA) event.

Irish Independent

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