A Fine Gael private members’ motion seeking the removal of all members of the Financial Regulator is due to be debated in the Dáil tonight.
The motion, which will be voted on tomorrow evening, also calls for a cap of €250,000 to be imposed on banking executives and for the immediate publication of the names of the so called Golden Circle of ten individuals involved in the €451 million transaction to purchase shares in Anglo Irish Bank.
Fine Gael said changing the board and senior management of the Financial Regulators office was necessary after “their clear collective failure to do their jobs overseeing our banking system”.
The motion also calls on the Government to engage with other European Union member states to develop "good bank/bad bank" model and to give a leading role to the Office of the Director of Corporate Enforcement in investigating the recent scandals in Irish banking.
The party’s deputy leader and finance spokesman, Richard Bruton, said: "We have to have a new start for Irish banking. Too many businesses, jobs and homes depend on a properly functioning banking system to have a continuous drip drip flow of important information that only serves to damage the perception of our economy.”
The recommendations contained in the motion £are the types of actions that will start rebuilding trust in our banking system.
“The piecemeal approach of the Government to these problems is not working,” he claimed.