Davy hit with record €4.1m fine for market breaches
The penalty over an Anglo Irish Bank bond trade is the largest ever issued to a stockbroker in Ireland
The Central Bank has fined Davy €4.1 million – the largest ever issued to a stockbroker in Ireland – over a slew of “serious issues” relating to a 2014 bond deal.
The transaction involved a “consortium” of 16 Davy employees, including senior executives, buying Anglo Irish Bank bonds from a client in a personal capacity.
The client was not told that the group of buyers was made up of Davy employees, a situation...
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