Page 2 - Barry Nangle News Today

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The largest securities firm in the State put itself up for sale in March in an effort to rebuild trust in the business and address concerns about former executives involved in the 2014 bond deal remaining as major shareholders. Investment bank Rothchild is handling the process. The Central Bank fined Davy €4.1 million that month, saying it breached market rules by failing to identify whether a conflict of interest existed as 16 employees bought junior bonds in Anglo Irish Bank from a clie...

  Thirteen of the members of the Davy-16 group of employees who were involved in a 2014 Anglo Irish Bank bond trade at the heart of a Central Bank fine and reprimand for the firm in March were named in the High Court on Monday. The 13 have been joined as defendants alongside Davy in a case taken by Belfast developer Patrick Kearney, who was on the other side of the trade. Mr Kearney is suing for for damages and aggravated damages, alleging fraudulent misrepresentation, concealment and breach ...

Minister O’Donovan announces free admission to OPW visitor sites in support of the Government’s recovery and reopening plan 14th May 2021 - Patrick ODonovan TD Mr. Patrick O’ Donovan T.D., Minister of State with responsibility for the Office of Public Works (OPW), today announced that admission charges to all fee-paying openOPW heritage sites are being waived in line with the Government’s recovery and reopening plan outlined in The Path Ahead. With inter-county travel possibl...

  A businessman has claimed J & E Davy stockbrokers made a windfall profit of some €25 million from bonds it sold on his behalf after he was allegedly fraudulently misled by senior executives in the firm. In Commercial Court proceedings, Patrick Kearney says he learned about the alleged concealment after Davy was recently fined a record €4.1 million by the Central Bank because of the manner in which the stockbrokers sold his bonds. Davy, while acting as his agent in the sale to what ...

Former Davy Group chief executive Tony Garry has resigned as chairman and director of BES Management, a joint venture between Davy and BDO for managing investments under the Employment and Investment Incentive Scheme (EIIS). He departed the board of the company on March 8, just six days after Davy was fined €4.13m and reprimanded by the Central Bank for a controversial 2014 bond deal in which he participated. His resignation was confirmed by a spokesperson for BES. The news follows his depart...

Davy review to look forensically at staff trading Review to assess controls and governance aimed at preventing conflicts of interest Tue, Mar 16, 2021, 18:50 Updated: Tue, Mar 16, 2021, 19:58   Davy has asked Alvarez & Marsal, an international professional services firm, to look forensically at staff trading over the past seven years as part of a review of matters arising from a Central Bank investigation into a bond trade that has seen the firm spiral into crisis over the past two w...

When the fall of Davy finally came, it came quickly last week - and it landed with a bang. The reverberations will be felt for some time, in the corridors of power, the oak-panelled halls of Corporate Ireland and the homes of well-to-do families that entrusted the blue chip firm to discreetly invest their wealth. The main event is not over yet, however. J&E Davy Stockbrokers is on the block. Its sale can expect to reveal some more of what really went behind the curtain in one the countrys most ...

Former Davy chief leaves posts at Trinity College and Dublin hospital Bond scandal costs Brian McKiernan roles on Provost’s Council and hospital board Mon, Mar 15, 2021, 13:34 The Central Bank fined the country’s biggest stockbroking firm €4.1 million. Photograph: Sasko Lazarov/RollingNews.ie   Former Davy stockbrokers chief executive Brian McKiernan has resigned from the Provost’s Council at Trinity College Dublin and the board of a Dublin hospital in the wake of the bond deal scanda...