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Sat 01 Jan 2009Financial regulator steps down over Anglo loans inquiry
THE CHIEF executive of the financial regulator, Pat Neary, announced his decision last night to retire early over the handling of the regulator's investigation into the €87 million in secret directors' loans at Anglo Irish Bank.
An internal investigation by a committee of the Irish Financial Services Regulatory Authority found that there had been a breakdown in internal communication and process within the regulator's office, following
the discovery of the hidden loans to Anglo's former chairman Seán FitzPatrick in January 2008.
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