Lengthy review into Davy continues as more clients drift away

CRH has followed Kerry Co-op in distancing itself from the broker, following the record €4.1 million Central Bank fine for breaches of market rules

11th July, 2021
Lengthy review into Davy continues as more clients drift away
Davy Stockbrokers, which may soon be bought by Bank of Ireland. Picture: Fergal Phillips

The “forensic analysis” of Davy’s staff trading, commissioned by the firm in the wake of the Central Bank fine is still ongoing, four months after it began.

Alvarez & Marsal, a global professional services and management consultancy, was initially hired in mid-March to conduct a review of all staff trading between 2014 and 2021. The external team was also given the freedom to investigate previous trades if it found areas of concern.

It...

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

EML Payments sets aside €7m for Central Bank investigation into Prepaid Financial Services

Financial sector executives could be suspended for 30 months while being investigated

Analysis: Draft legislation brings individual accountability for financial sector misconduct a step closer

Ian Guider: Moneylending doesn’t need a revamp, it needs to be replaced