Financial regulator - An audacious admission

THE chairman of the Financial Services Regulatory Authority didn’t tell us anything we didn’t already know when he told an Oireachtas hearing that some bank executives had behaved in a totally “unacceptable” way.

Mr Jim Farrell also told the committee that “substantial change” was required to the office.

Surprise, surprise. The authority is one of the institutions we depend on to keep the banks on the straight and narrow. Because it did not our situation is a lot worse than it might have otherwise been.