Financial Regulator fails & hands Anglo over to the gardai

[cyberianpan]

The Financial Regulator has announced that it is having to give control of 2 of its investigations of Anglo over to the gardai

The Financial Regulator never sanctioned Anglo and now suddenly the investigations have become criminal

This is proof of the total failure of the Regulator over the years, akin to never charging the man who beats his wife until he kills her

RTE
[SIZE=4]Regulator asks gardaí to investigate Anglo[/SIZE]

The Financial Regulator had been investigating three main issues at the bank in recent months.
Two of these investigations have now been elevated to the status of criminal investigations and have been referred to gardaí by the Financial Regulator today.

The maximum penalty under market abuse legislation is ten years in prison and €10m in fines.
Gardaí will now lead both investigations and will be assisted by the Financial Regulator.

cYp

[He3]

Who has power to investigate the Regulator?

[cyberianpan]

Apologies, I searched in economy & justice and have posted a duplicate thread

Original at: http://www.politics.ie/current-affai...ls-gardai.html

(though perhaps this thread can focus on the incompetence of the regulator)

cYp

[COMMIE]

The board on the financial regulators office should be sack for incompetence at least.

[Elvis Parsley]

The board on the financial regulators office should be sack for incompetence at least.

I believe Enda Kenny called for the same last week

[MortgageBroker]

there are two sides to this, firstly if you are a lying sonofa************************* then regulation won't fix that, its like saying the cops or judiciary are failures because somebody broke the law, they set the law and if you break it then you pay the price

secondly, they failed because they were too friendly with banks, no bank was adequately fined for anything eg: forex abuses etc.

their charter doesn't give them sufficient power either, and it is full of ex central bankers, we need the real money men in there and incentivise them to catch people out.

[Digout]

This investigation is getting investigationier.

[Dreaded_Estate]

The gardai should be investigating the individuals in the Financial Regulator and the Central Bank who approved and promoted these schemes.

[Elmer]

"The only thing that surprises me is how long it has taken the investigative machinery to swing into action..."

Alan Dukes on VB's show tonight.

[Mitsui]

This is proof of the total failure of the Regulator over the years, akin to never charging the man who beats his wife until he kills her
cYp

I think this is the whole thing in a nutshell. Extremely well put, sir, if I may say so