Davy forced to inform credit unions of adverse findings

Davy stockbrokers failed to disclose to credit union clients that it was a principal in both the purchase and sale of a bond, a review by the Irish Stock Exchange (ISE) has found.

13th November, 2010
Davy forced to inform credit unions of adverse findings
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Davy stockbrokers failed to disclose to credit union clients that it was a principal in both the purchase and sale of a bond, a review by the Irish Stock Exchange (ISE) has found.

The report was never published, but the financial regulator forced Davy to inform credit unions of adverse findings against the firm. The broker disputes the findings but has communicated them, on request from the regulator.

Davy last week told certain credit unions...

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