‘Very serious’ Davy breaches not criminal offences, says Central Bank
Regulator refuses to name the 16 people implicated in the scandal for which the stockbroker was fined €4 million
Market breaches by Davy, which resulted in a €4.13 million fine for the stockbroker, do not constitute criminal offences, the Central Bank has said.
The controversy, which prompted the resignation of top officials at the firm, involved “very serious regulatory breaches”, the bank said in a letter to Social Democrats co-leader Roisin Shortall.
The Business Post reported last month that the Central Bank had contacted the Gardaí in relation to its investigation into Davy. But ...