Tánaiste says Michael D'Arcy should have contacted Sipo prior to taking new job as CEO of funds lobby group

TÁNAISTE LEO VARADKAR has said former junior finance minister Michael D’Arcy should have contacted the Standards in Public Office Commission prior to taking up his position as chief executive of the Irish Association of Investment Managers .In a statement, Varadkar said: “It’s my understanding that Michael D’Arcy has contacted SIPO.

Ryan said he expressed these concerns to Taoiseach Micheál Martin and Tánaiste Leo Varadkar last night, adding “they probably share some of those concerns”.He said he found out about the appointment when it became public knowledge yesterday, adding that he believes he was told around the same time as Martin and Varadkar. “I don’t think anyone is holding back information from me,” Ryan said.

“The IAIM obtained legal advice and are satisfied that Michael D’Arcy’s appointment as CEO is not in breach of Section 22 of the Lobbying Act. IAIM has not engaged in any lobbying activity in 2018, 2019 and 2020 to date, as evidenced by filings under the Act,” they said.D’Arcy spoke in favour of legislation the Irish funds industry has been lobbying for for years, in his last Seanad speech.

D’Arcy said the current legislation is not in sync with laws in other European countries in terms of the limits on partnership investment for funds.

If only he was the most powerful man in the country, and could do something about it.

Taoiseach (MM that is) 'not happy' - that's it. Not a thing will be done. Gravy train keeps choo-chooin', financial services recruit politicians, developers destroy what ever the feck they want - the system is beyond broken.

Nothing to see here... He won't be lobbying, he will however be having casual phone calls and chats, unminuted of course. FFG cosy club...

Yet he won't do a thing about it

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