Central Bank to tell committee stronger regulatory framework needed in wake of Davy controversy
The scandal has led to fierce criticism of the firm, and its CEO resigned at the weekend. By Cónal Thomas Tuesday 9 Mar 2021, 9:54 AM Mar 9th 2021, 9:54 AM 8,696 Views 49 Comments
Image: RollingNews.ie
Image: RollingNews.ie
A SENIOR CENTRAL Bank representative will tell an Oireachtas Committee today that Ireland needs a stronger regulatory framework to hold individuals accountable for breaches.
Director General of Financial Conduct at the bank Derville Rowland will make her comments following a fine of €4.1 million against stockbrokers Davy after a probe found four breaches of market rules by the company between 2014 and 2016 in relation to a bond transaction.
Central Bank to discuss Davy case with gardai and ODCE
Updated / Tuesday, 9 Mar 2021
22:22
Business Editor
The Director General of Financial Conduct at the Central Bank has said the findings of the bank s investigation into Davy will be discussed with gardaí and the Office of the Director of Corporate Enforcement.
However Derville Rowland told the Oireachtas Finance Committee that the probe into the stockbroker did not form views that criminal reports should be made to other agencies.
Ms Rowland said that now that the full details of the investigation are out into the public domain, the bank is satisfied to engage with other unnamed agencies who may see a relevant role with them, adding that it has had tentative engagements with some.
Davy stockbrokers CEO resigns amid bond deal fine thejournal.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thejournal.ie Daily Mail and Mail on Sunday newspapers.
Stockbrokers Davy apologise for failures after €4.1 million Central Bank fine
The Central Bank announced the fine levied against Davy yesterday. By Orla Dwyer Wednesday 3 Mar 2021, 8:18 PM Mar 3rd 2021, 8:18 PM 15,233 Views 0 Comments
File image of the Davy office in Dublin.
Image: Rollingnews.ie
Image: Rollingnews.ie
DAVY HAS APOLOGISED “unreservedly and unequivocally” in a public statement for failures that emerged from a Central Bank investigation.
The board of stockbrokers Davy has released a public statement after the Central Bank yesterday levied a fine of €4.1 million against the company.
The regulator announced its findings after an investigation revealed four breaches of market rules by Davy stockbrokers between 2014 and 2016.
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Paschal Donohoe calls on stockbrokers Davy to make a public statement after €4.1 million Central Bank fine
It’s understood the fine relates to a transaction involving Anglo Irish Bank bonds and a Maple 10 developer. By Ian Curran Tuesday 2 Mar 2021, 3:08 PM Mar 2nd 2021, 3:08 PM 32,864 Views 0 Comments
MINISTER FOR FINANCE Paschal Donohoe has called on Davy stockbrokers to comment publicly on the €4.1 million fine that the Central Bank of Ireland fine levied against the company today.
The regulator announced its findings this afternoon after an investigation revealed four breaches of market rules by the firm between 2014 and 2016.
It’s understood to be the largest fine a brokerage in Ireland has ever faced.