ARTICLE
8 June 2015

Update On The Banking Inquiry

M
Matheson

Contributor

Established in 1825 in Dublin, Ireland and with offices in Cork, London, New York, Palo Alto and San Francisco, more than 700 people work across Matheson’s six offices, including 96 partners and tax principals and over 470 legal and tax professionals. Matheson services the legal needs of internationally focused companies and financial institutions doing business in and from Ireland. Our clients include over half of the world’s 50 largest banks, 6 of the world’s 10 largest asset managers, 7 of the top 10 global technology brands and we have advised the majority of the Fortune 100.
By way of update on the Banking Inquiry, the "Context Phase" of the Inquiry is complete (read our Context Phase article from December 2014), and the Inquiry is currently in its "Nexus Phase".
Ireland Finance and Banking

By way of update on the Banking Inquiry, the "Context Phase" of the Inquiry is complete (read our Context Phase article from December 2014), and the Inquiry is currently in its "Nexus Phase". The Context Phase established the broad context of the Inquiry and set out the background to the banking crisis by way of technical briefings.

The Nexus Phase is focused on questioning key witnesses on the main issues identified in the terms of reference and the Context Phase, and runs until September 2015. The Inquiry Committee intends to present its final report in November 2015.

Notably, the Banking Inquiry has the power to compel the attendance of witnesses during this phase. Significant figures called to give evidence include key figures from the National Asset Management Agency and major banks and accounting practices.  The former President of the European Central Bank, Jean-Claude Trichet, recently spoke at a conference organised by the Institute of International and European Affairs. This conference served as a stand-in for members of the Oireachtas Banking Inquiry to engage with Mr Trichet about any role the ECB played in the Irish financial crisis.  In addition, it has recently been reported that Taoiseach Enda Kenny and former Taoiseach Bertie Ahern will appear before the Inquiry. 

We will keep you updated as the Banking Inquiry progresses.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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