Page 4 - Barry Nangle News Today

UPDATE: Irish Treasury pulls authority for Davy to be primary dealer Tue, 9th Mar 2021 06:57 (Alliance News) - The Irish Treasury on Monday said it has withdrawn J&E Davys authority to act as a primary dealer in Irish government bond auctions, effective immediately. The action follows the announcement early last week by the Irish central bank that it had fined Irelands largest stockbroker EUR4.1 million over a bond deal in which a group of staff and executives took the opposite side of a client...

Stockbroker faces scramble to hold on to clients as top executives resign

Minister calls on Davy to resolve shareholding concerns Group of 16 involved in rogue bond trade own at least 33% of stockbrokers Sun, Mar 7, 2021, 17:04   Davy needs to “very promptly” address concerns surrounding the fact that former senior executives involved in a controversial bond trade remain major shareholders in the group, the Minister of State at the Department of Finance, Seán Fleming, has said. The group of 16 individuals involved in a 2014 trade at the centre of a €4.1 mill...

Mon, 8th Mar 2021 08:23 (Alliance News) - Equiniti Group on Monday said it has agreed to sell the EQi direct-to-consumer business of Equiniti Financial Services to interactive investor for GBP48.5 million. Equiniti said the sale of the business to ii, already one of the largest share trading platforms in the UK, is expected be completed by the summer. It will receive GBP47.5 million in cash on completion and up to a further GBP1.0 million contingent on the timing of migrating customers onto the...

Irish Times has removed the logo from its podcast already. Davy has had a relationship with the National Yacht Club since June 2018, when the firm sponsored the club’s regatta with Irish and British Lions rugby player Paul Wallace on hand for the announcement. The company sponsors the junior regatta annually and the senior regatta every second year, keeping its brand visible to the club’s 1,000 well-heeled members. Davy started a three-year sponsorship deal with the NCH in April 2019 as its...

Stockbroker faces scramble to hold on to clients as top executives resign

The NTMA described the firm’s behaviour as falling substantially short of the standards expected. Davy has been embroiled in controversy after three of its senior figures resigned over the weekend. The stockbroker was fined 4.1 million euro by the Central Bank of Ireland for breaches of financial market rules. The board reached its decision based on its assessment of the very serious findings relating to the firm that were made by the Central Bank of Ireland last week NTMA In a statement, a s...

PRESS: Davy CEO steps down over after fine for bond deal - FT | Financial News

The General Secretary of the Financial Services Union has said there must now be a very thorough independent review of Davy stockbrokers.

Ireland’s top securities firm closed its bond desk and said all those involved in a deal which has plunged the company into controversy have now exited, as it sought to draw a line under the worst scandal to hit Dublin’s stockbroking community in decades.