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IFSRA
The Financial Regulator ( ga, Rialtóir Airgeadais), officially the Irish Financial Services Regulatory Authority, was the single regulator of all financial institutions in Ireland from May 2003 until October 2010 and was a "constituent part" of the Central Bank of Ireland. It was re-unified with the Central Bank of Ireland on 1 October 2010 and its board structure was replaced by a new Central Bank of Ireland Commission. Matthew Elderfield, formerly head of the Bermuda Monetary Authority, led the organisation from January 2010 until it was disestablished in November 2010. The previous chief executive officer was Patrick Neary, who retired early over the handling of the regulator's investigation into the €87 million in secret directors' loans at Anglo Irish Bank. The incumbent before that, had companies he is a director of, fined a total of €3.35 million by his previous employers the Financial Regulator, for risk control and reporting failures. History Est ...
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Patrick Neary (regulator)
Patrick Neary, an Irish accountant and public servant, was Financial Regulator at the time of Ireland's Ireland's financial crisis in 2008, including the issuance of a State guarantee for the country's major banks. His role in the crisis has been subject to significant criticism. Early life Patrick Neary came from County Kilkenny, and studied at St Ciaran's College, Kilkenny. He attended University College Dublin for one year, studying the Classics, leaving to help in his family's horticultural business. He subsequently joined the Central Bank of Ireland in 1971. Career Neary began in the Central Bank in a junior role, and was promoted over three decades, reaching a position as head of supervision for securities and stock exchanges. Cases he worked on included two of three Irish bank collapses prior to the Anglo-Irish Bank crisis - those of Irish Trust Bank in 1976 and Merchant Banking in 1982 - and that of Bank of Ireland acquisition First New Hampshire Bank. In 2003, he ...
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Central Bank Of Ireland
The Central Bank of Ireland ( ga, Banc Ceannais na hÉireann) is Ireland's central bank, and as such part of the European System of Central Banks (ESCB). It is the country's financial services regulator for most categories of financial firms. It was the issuer of Irish pound banknotes and coinage until the introduction of the Euro currency, and now provides this service for the European Central Bank. The Central Bank of Ireland was founded on 1 February 1943, and since 1 January 1972 has been the banker of the Government of Ireland in accordance with the Central Bank Act 1971, which can be seen in legislative terms as completing the long transition from a currency board to a fully functional central bank. Its head office, the Central Bank of Ireland building, was located on Dame Street, Dublin from 1979 until 2017. Its offices at Iveagh Court and College Green also closed down at the same time. Since March 2017, its headquarters are located on North Wall Quay, where the pu ...
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Sunday Business Post
The ''Business Post'' (formerly ''The Sunday Business Post'') is a Sunday newspaper distributed nationally in Ireland and an online publication. It is focused mainly on business and financial issues in Ireland. Founding to Irish financial crisis ''The Sunday Business Post'' was co-founded by four people: the economist and editor Damien Kiberd, Aileen O'Toole (former editor of '' Business & Finance''), Frank Fitzgibbon (editor of ''The Sunday Times'' Ireland) and James Morrissey (spokesperson for Denis O'Brien). The ''SBP'' was previously owned by Thomas Crosbie Holdings (TCH). It was then owned by Key Capital, Paul Cooke and staff members (6% equity for staff). It was then owned by Sunrise Media, the shareholders of which include Key Capital. It is now owned by Kilcullen Capital Partners. The paper's first edition appeared on 26 November 1989. While TCH's other major newspaper titles, the ''Irish Examiner'' and ''Evening Echo'', are based in Cork, the ''Post'' is published ...
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Enda Kenny
Enda Kenny (born 24 April 1951) is an Irish former Fine Gael politician who served as Taoiseach from 2011 to 2017, Leader of Fine Gael from 2002 to 2017, Minister for Defence from May to July 2014 and 2016 to 2017, Leader of the Opposition from 2002 to 2011, Minister for Tourism and Trade from 1994 to 1997 and Minister of State at the Department of Labour and Department of Education with responsibility for Youth Affairs from 1986 to 1987. He served as Teachta Dála (TD) for Mayo West from 1975 to 1997 and for Mayo from 1997 to 2020. Kenny led Fine Gael to a historic victory at the 2011 general election, his party becoming the largest in the country for the first time, forming a coalition government with the Labour Party on 9 March 2011. He subsequently became the first Fine Gael member to be elected Taoiseach for a second consecutive term on 6 May 2016, after two months of negotiations, following the 2016 election, forming a Fine Gael-led minority government. He was the ...
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Fine Gael
Fine Gael (, ; English: "Family (or Tribe) of the Irish") is a liberal-conservative and Christian-democratic political party in Ireland. Fine Gael is currently the third-largest party in the Republic of Ireland in terms of members of Dáil Éireann and largest in terms of Irish members of the European Parliament. The party has a membership of 25,000 in 2021. Leo Varadkar succeeded Enda Kenny as party leader on 2 June 2017 and as Taoiseach on 14 June; Kenny had been leader since 2002, and Taoiseach since 2011. Fine Gael was founded on 8 September 1933 following the merger of its parent party Cumann na nGaedheal, the National Centre Party and the Army Comrades Association. Its origins lie in the struggle for Irish independence and the pro-Treaty side in the Irish Civil War, with the party claiming the legacy of Michael Collins. In its early years, the party was commonly known as ''Fine Gael – The United Ireland Party'', abbreviated ''UIP'', and its official title in ...
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Irish Property Bubble
The Irish property bubble was the speculative excess element of a long-term price increase of real estate in the Republic of Ireland from the early 2000s to 2007, a period known as the later part of the Celtic Tiger. In 2006, the prices peaked at the top of the bubble, with a combination of increased speculative construction (financed almost entirely by senior debt) and rapidly rising prices; in 2007 the prices first stabilised and then started to fall until 2010 following the shock effect of the Great Recession. By the second quarter of 2010, house prices in Ireland had fallen by 35% compared with the second quarter of 2007, and the number of housing loans approved fell by 73%. The collapse of the property bubble was one of the major contributing factors to the post-2008 Irish banking crisis. House prices in Dublin, the largest city, were briefly down 56% from their peak and apartment prices down over 62%. For a time, house prices returned to twentieth century levels and mortg ...
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Vanuatu
Vanuatu ( or ; ), officially the Republic of Vanuatu (french: link=no, République de Vanuatu; bi, Ripablik blong Vanuatu), is an island country located in the South Pacific Ocean. The archipelago, which is of volcanic origin, is east of northern Australia, northeast of New Caledonia, east of New Guinea, southeast of the Solomon Islands, and west of Fiji. Vanuatu was first inhabited by Melanesian people. The first Europeans to visit the islands were a Spanish expedition led by Portuguese navigator Fernandes de Queirós, who arrived on the largest island, Espíritu Santo, in 1606. Queirós claimed the archipelago for Spain, as part of the colonial Spanish East Indies, and named it . In the 1880s, France and the United Kingdom claimed parts of the archipelago, and in 1906, they agreed on a framework for jointly managing the archipelago as the New Hebrides through an Anglo-French condominium. An independence movement arose in the 1970s, and the Republic of Vanuatu was fou ...
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Nevis
Nevis is a small island in the Caribbean Sea that forms part of the inner arc of the Leeward Islands chain of the West Indies. Nevis and the neighbouring island of Saint Kitts constitute one country: the Federation of Saint Kitts and Nevis. Nevis is located near the northern end of the Lesser Antilles archipelago, about east-southeast of Puerto Rico and west of Antigua. Its area is and the capital is Charlestown. Saint Kitts and Nevis are separated by a shallow channel known as "The Narrows". Nevis is roughly conical in shape, with a volcano known as Nevis Peak at its centre. The island is fringed on its western and northern coastlines by sandy beaches composed of a mixture of white coral sand with brown and black sand eroded and washed down from the volcanic rocks that make up the island. The gently-sloping coastal plain ( wide) has natural freshwater springs as well as non-potable volcanic hot springs, especially along the western coast. The island was named ''O ...
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Goodbody Stockbrokers
Goodbody Stockbrokers is Ireland's longest established stockbroking firm with roots dating back to 1877. As well as being one of the leading institutional brokers, it is one of the largest private client firms in Ireland. It is a member firm of the Irish Stock Exchange and a SETS participant of the London Stock Exchange. The company has offices in Dublin, London, Galway and Cork. It employs over 300 people and sold its 26.2 per cent of the Irish Stock Exchange in 2018. Ireland has two large (one of which is Goodbody) and half a dozen medium-sized brokerages. A 2013 report by the Central Bank of Ireland noted the likelihood and possible risks of future mergers among firms. Goodbody was formerly owned by Irish financial services firm Fexco, which held a 51% interest, and by members of Goodbody's management and staff, who owned the remaining 49%. In November 2019, the Bank of China reached an agreement with Goodbody to purchase all of its shares for €155 million. In March 2020, ...
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Whistleblower
A whistleblower (also written as whistle-blower or whistle blower) is a person, often an employee, who reveals information about activity within a private or public organization that is deemed illegal, immoral, illicit, unsafe or fraudulent. Whistleblowers can use a variety of internal or external channels to communicate information or allegations. Over 83% of whistleblowers report internally to a supervisor, human resources, compliance, or a neutral third party within the company, hoping that the company will address and correct the issues. A whistleblower can also bring allegations to light by communicating with external entities, such as the media, government, or law enforcement. Whistleblowing can occur in either the private sector or the public sector. Retaliation is a real risk for whistleblowers, who often pay a heavy price for blowing the whistle. The most common form of retaliation is abrupt termination of employment. However, several other actions may also be conside ...
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Allied Irish Banks
Allied Irish Banks, p.l.c. is one of the so-called Big Four commercial banks in Ireland. AIB offers a full range of personal, business and corporate banking services. The bank also offers a range of general insurance products such as home, travel and car. It offers life assurance and pensions through its tied agency with Irish Life Assurance plc. In December 2010 the Irish government took a majority stake in the bank, which eventually grew to 99.8%. AIB's shares are currently traded on the Irish Stock Exchange and the London Stock Exchange, but its shares were delisted from these exchanges between 2011 and 2017, following its effective nationalisation. The remainder of its publicly traded shares were listed on the Enterprise Securities Market of the Irish Stock Exchange until 23 June 2017. AIB also owns Allied Irish Bank (GB) in Great Britain and AIB (NI) in Northern Ireland. In November 2010, it sold its 22.5% stake in M&T Bank in the United States. At the beginning of 2008 A ...
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Irish Life And Permanent
Permanent TSB Group Holdings plc, formerly Irish Life and Permanent plc is a provider of personal financial services in Ireland. Irish Life Assurance plc and the Irish Permanent Building Society merged to form the Irish Life and Permanent Group in 1999 and the merged entity acquired the Trustee Savings Bank in 2001. The group has no connection to the UK's TSB Bank. History The bank is historically derived from three different companies: * Irish Life Assurance * Irish Permanent Building Society * Trustee Savings Bank (no relation to the British bank of the same name) Irish Life Assurance plc (founded 1939) and the Irish Permanent Building Society (founded 1884) merged to form the Irish Life and Permanent Group in 1999 and the merged entity acquired the Trustee Savings Bank (founded 1816) in 2001. Irish Life Assurance Irish Life was a life assurance company created in 1939 with state assistance and concentrated on life assurance and investment products. * The City of Dublin As ...
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