Davy hires London firm to carry out ‘forensic assessment’ of staff trading

The appointment of Alvarez & Marsal comes as Derville Rowland, the head of the Central Bank’s financial misconduct unit, said the regulator’s enforcement investigation had sparked “very serious consequences for the firm”

16th March, 2021
Davy hires London firm to carry out ‘forensic assessment’ of staff trading
The stockbroker is attempting to manage the fallout from the Central Bank investigation into a bond trade deal that resulted in it being fined €4.13 million for breaching market rules.

Davy has appointed Alvarez & Marsal to carry out a "forensic assessment" of staff trading since 2014.

The move is part of the stockbroker's attempt to manage the fallout from the Central Bank investigation into a bond trade deal that resulted in it being fined €4.13 million for breaching market rules. A number of senior executives have resigned from Davy while the stockbroker is now for sale following the scandal.

In a statement Davy said: "The...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Related Stories

Pressure on Irish banks to open up to crypto firms

Pearse Doherty raises ‘heartbreaking’ losses suffered by Irish Dolphin Trust investors

Two big to fail: will the sale of Davy undermine Irish banking?

Finance ombudsman criticised over ‘case delays’