Credit union regulator alleged rules breached by Davy Stockbrokers

Davy Stockbrokers breached the client money requirements of the securities and exchanges department of the Financial Regulator, according to a document prepared by the credit union regulator who operates under the umbrella of the Financial Regulator.

10th May, 2008

Davy Stockbrokers breached the client money requirements of the securities and exchanges department of the Financial Regulator, according to a document prepared by the credit union regulator who operates under the umbrella of the Financial Regulator.

Brendan Logue referred to the alleged breach in a 2005 submission to the Department of Finance, which expressed his concerns about the risky investments being made by credit unions through the Irish League of Credit Unions (ILCU) advised by Davy.

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