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”
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: ...