FIANNA Fail Enterprise and Employment spokesperson, Mrs Mary O'Rourke, has called for a Dail committee inquiry into the events surrounding the collapse of Taylor Asset Managers.
"The true facts of the Taylor affair have yet to emerge," according to Mrs O'Rourke. She will this week write to the chairman of the Enterprise and Employment steering committee formally to request an inquiry into the matter.
"An inquiry by this Dail committee would serve a useful purpose, and would clarify exactly how the relationship between the IBA (Irish Brokers Association) and the Department of Enterprise and Employment really operated," Mrs O'Rourke said.
She described the Department's procedures for dealing with incidents such as the Taylor affair were "very lax and unresponsive".
The Fianna Fail deputy leader wants the Minister for Finance, Mr Quinn, and the Minister for Enterprise and Employment, Mr Bruton, to appear before the committee.
Mrs O'Rourke is seeking the appearance of representatives of the IBA, and the main British investment regulatory bodies.
The Investment Intermediaries Act is a toothless tiger and it is clear the laws governing the regulation of the investment industry require an overhaul, said Mrs O'Rourke.
