Ian Guider: We have never been serious about tackling financial wrongdoing

The scandal involving the venerable stockbroker reminds us that, in most cases of economic wrongdoing, there are no real consequences for those who gain unfairly

The Davy scandal is not the first such scandal to hit the financial services industry in Ireland but on the few occasions that the underbelly of Irish business has been exposed, few consequences have followed

Since the news of the Central Bank’s €4.1 million fine of Davy Stockbrokers first broke earlier this month, a number of questions have been asked about the scandal. Was this really the only transaction involving a group of insiders profiting at the expense of clients? Or is it typical of how people behave in the industry?

We may soon find out the answer to the first of those questions, following the appointment of consultants from ...