I raise the issue of the fine of €4.1 million imposed by the Central Bank of Ireland on Davy stockbrokers. While it is welcome because of the reprehensible behaviour of the executives involved, there is also a real issue of perception versus reality. I am sure the Taoiseach agrees. I refer to there being one law for the rich and one for the poor.

The Minister for Finance, Deputy Donohoe, commented on this issue this morning. I did not think he was very good. I thought he was quite weak. Why have we been waiting for two years and been dragging our feet on introducing a regime of accountability for bankers and senior executives in financial firms? It has been recommended by the Central Bank of Ireland and has been introduced in the UK. Simply put, unless it is brought in, it is highly likely that executives who act in this way in future will be able to hide behind fines imposed on their firms. That is not acceptable because it will not negate such executives taking such risks and chances again.

The behaviour, as revealed, is unacceptable. The regulator has acted has acted in a very firm and decisive way. A severe penalty of more than €4 million has been imposed. The regulator's decision is significant and it will have an impact on behaviour. It is deeply disappointing that such behaviour happened in the first instance.

We will work with the Deputy on any additional measures he thinks may be necessary. We will work with him and others in order to see what more can be done to this disincentivise such behaviour in future.

The Central Bank has made the recommendation.

I heard the comments of the Minister for Finance this morning and I thought they were strong. His response to this is important in terms of identifying the role of the regulator. There has been a tendency in this country to set up independent regulation, but then we do not allow the regulators to do their work.

The Central Bank has asked us to think in this regard. It is not-----

I thank the Taoiseach, but his time is up. I call Deputy Whitmore.