Analysis: Draft legislation brings individual accountability for financial sector misconduct a step closer
Executives could be fined up to €1 million and barred from working in the sector if they breach financial conduct rules under proposed new law
Paschal Donohoe, the Minister for Finance, had promised to publish the long-awaited draft legislation for tougher penalties for individual executives in the financial sector, and he managed to do so at the cabinet’s last meeting before the summer break. Approval was given for a new financial conduct regime.
It is too late to deal with the 16 senior executives in Davy, the stockbroking firm, who bought Anglo bonds being sold by a client, developer Patrick ...