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Davy confirms it is up for sale Updated / Friday, 12 Mar 2021 09:27 Business Editor The board of stockbroker Davy has said that it has decided to pursue a sale of the group.  "Rothschild & Co has been appointed as financial adviser to manage the process," it said in a statement last night. Last week the Central Bank fined Davy €4.13m for breaching market rules in relation to a transaction involving the broker's own staff - the biggest fine of its kind ever levied on a broker in Ireland. The transaction in question took place in November 2014. A "consortium" of 16 Davy employees, includin...

No suspected criminal activity found at Davy, Oireachtas told ‘Live supervisory matter’ but regulator declines to say if action likely against individuals Tue, Mar 9, 2021, 16:28 Updated: Tue, Mar 9, 2021, 21:44   Central Bank director general of financial conduct Derville Rowland said on Tuesday that the regulator did not find any suspected criminal activity when investigating Davy for market-rules breaches. The organisation is obliged by law to report any suspected incidents of criminality to An Garda Síochána and the Office of the Director of Corporate Enforcement (ODCE) th...

A statement was released this evening.

Davy crisis: Firm shuts bond desk, says no one linked to controversial deal is still at firm NTMA earlier pulled Davy’s ability to act as primary dealer of Government bonds Tue, Mar 9, 2021, 04:45 Updated: Tue, Mar 9, 2021, 19:47   Davy said on Monday evening that it had closed its bond desk, resulting in four redundancies, as it raced to contain a growing crisis triggered by a €4.1 million Central Bank fine and rebuke over breaches of market rules in relation to a 2014 bond deal. The brokerage said that, following the move, none of the 16 individuals involved in the controvers...

How early is too early for the first meeting of the day? If you ask someone on the trading floor, it might be anything before 7am. - Salespeople and traders usually have their morning meeting at 7.30am after arriving in the office at 6.30am. If you ask juniors in the investment banking division who've been working late the night before, it might be anything before 8.30am. But if you ask consultants at Big Four firms, it's not clear what constitutes a reasonable hour for the very first Zoom call.  It's a question that matters, because an executive at Deloitte U.K. has been compelled to re...