I thank the Central Bank for its dogged pursuit of the truth in the case of the Davy scandal, despite the scorched earth policy of the senior management of the company in trying to hide everything from its own compliance personnel and, indeed, from the Central Bank. We have to take steps now to restore the reputation of the financial services industry in Ireland and to protect the remaining jobs in Davy. There are hundreds of people who had absolutely nothing to do with what happened and who depend on the financial services industry. It is very important for Ireland, particularly after Brexit. Will the Taoiseach commit to ensuring that the Office of the Parliamentary Counsel will work to expedite legislation on the senior executive accountability regime, SEAR, in the Department of Finance?

Does the Taoiseach not find it extraordinary that 16 individuals in Davy made a substantial gain back in 2014 on the same Anglo Irish Bank bonds on which many ordinary people lost their life savings? The director of finance in the Central Bank told the finance committee yesterday that she could find no evidence of criminal activity in this matter. How do we reconcile a situation whereby if someone goes to a shop and steals a slice of bread, it is a criminal activity, but stealing and making money off Anglo Irish Bank bonds is not? Is the Taoiseach happy that we have the fully story on Davy? Is he satisfied that the law is sufficient to discourage white-collar crime? What measures will he put in place in this regard? The Taoiseach needs to seek a direct briefing from the Central Bank on this matter.

Following on from Deputy Carroll MacNeill's point, we are still waiting to see the legislation on the SEAR. I understand it is with the Attorney General. Does the Taoiseach believe that this scheme, which is overdue to be introduced, should extend to all aspects of the financial services sector, not just front-facing roles? It is crucially important to ensuring that transparency and accountability are restored in the sector and that we can continue developing the sector and maintaining its global reputation.

On the same issue, I take this opportunity to express my complete outrage at what has happened at Davy. It is particularly concerning, as referred to by Deputy O'Donnell, that what happened in the company came in the wake of financial scandals that rocked this country just a few short years before. It is absolutely unacceptable and it is completely disgusting to the many people who worked hard and lost a lot of money in recent years. I emphasise how important it is that this matter is treated with the utmost importance and given huge attention at the top level in Government. Such activity cannot be allowed to continue in this country and it cannot happen again.

This is something that goes to the heart of what people have been suffering for the past ten or 15 years. The Taoiseach is well aware of that. We bailed out the banks and got into such financial crisis in this country because of the very type of shenanigans that appear to have been going on in Davy. As well as the investigation that is being carried out by the Central Bank, will there be a criminal investigation into what happened here? Clearly, the individual at the start of this, who engaged Davy to provide a service, was not provided with that service. That is the first point. Second, the 16 people who went off and made this arrangement for themselves clearly did so with some kind of inside knowledge that they were going to make a large sum of money on it.

To any ordinary citizen looking in from the outside, there is a clear issue of fraud. In any other circumstances, there would be a criminal investigation. Will such an investigation happen?

I thank the Deputies for raising the issue. As I said earlier, what happened in Davy's is absolutely unacceptable. It was a disgrace and should not have happened. It has damaged not just the company but also, again, the reputation of financial services in Ireland. No stone will be left unturned in the context of strengthening the legislative regime. The Minister for Finance has made it clear - he presented to the Cabinet on this matter yesterday - that the SEAR legislation will be brought forward and that the heads of it are nearly ready. We will do everything we possibly can. I cannot prejudice in my commentary any further investigations that may take place in respect of this matter. The behaviour was not acceptable by any standard.