Minister calls on Davy to resolve shareholding concerns Group of 16 involved in rogue bond trade own at least 33% of stockbrokers
Sun, Mar 7, 2021, 17:04
Davy needs to “very promptly” address concerns surrounding the fact that former senior executives involved in a controversial bond trade remain major shareholders in the group, the Minister of State at the Department of Finance, Seán Fleming, has said.
The group of 16 individuals involved in a 2014 trade at the centre of a €4.1 million regulatory fine and rebuke last week, for breach of market rules, are estimated to own at least a third of a business that is estimated to be worth about €400 million.