Norris raises red flag at IFSC

Senator David Norris claims to have been approached bya former risk manager who gave him details of significant regulatory breaches by a European bank with an office in the IFSC

15th May, 2010

There has been surprisingly little media attention given to a ‘‘grossly serious matter’’ raised by Senator David Norris relating to liquidity breaches at the Irish operations of a leading European bank. It is believed that the scale of the alleged 2007 breaches was so great that it left the bank several billion euro short for liquidity purposes.

Norris told the Seanad in March of this year that he had been approached by...

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