Reaction: The IFSRA report was criticised by politicians and business groups for being too narrowly focused and for not naming leading executives responsible for overcharging.
The Labour Party's finance spokeswoman, Ms Joan Burton,said the report was "very disappointing" because it failed to identify those responsible for "breaches and lapses" outlined in the report.
"In particular, the report fails to indicate the positions held by senior staff involved in breaches of regulations," she said.
In relation to the activities of the Faldor company, Ms Burton claimed the report failed to outline "the tax issues that arose for a number of senior executives".
"Again no individuals are named in the report, and it is not clear why this should be. It would be wrong if any investigation into tax issues by the Revenue Commissioners precluded the publication of the names of the AIB Investment Managers executives concerned," she claimed.
Small business group ISME said that IFSRA would be better off investigating the whole banking sector. It said the report was a "damp squib" and a "total let-off" for the State's largest bank.
The Fine Gael spokesman on finance, Mr Richard Bruton, said it was "disturbing" that at least seven opportunities arose for senior AIB executives to disclose the problem of foreign exchange overcharging and nothing was done. He said this was despite an internal AIB memo which analysed the issue and underlined the legal obligations.
"Many people were aware but did nothing. These individuals may indeed have substantial individual responsibility, but they worked within a bank which sustained an environment where such activity was at worst tolerated and at best not vigorously pursued."
The Green Party said the Minister for Finance needed to act upon "this catalogue of deceit".
"Of continuing great concern is the need to discover and bring to account individuals within AIB who were responsible for making these policy decisions and who may, either directly or indirectly, have benefited," said Green Party finance spokesman Mr Dan Boyle.
The Irish Bank Officials Association said the key consideration was to ensure all of the recommendations were now implemented. General secretary Mr Larry Broderick said: "While the report brings a sense of closure to the investigative process undertaken by IFSRA, it is important that the exhaustive work and considered viewpoints contained in the report are not left to gather dust."
