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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for Davy to be primary dealer Tue, 9th Mar 2021 06:57 (Alliance News) - The Irish Treasury on Monday said it has withdrawn J&E Davy's authority to act as a primary dealer in Irish government bond auctions, effective immediately.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 Ireland's largest stockbroker EUR4.1 million over a bond deal in which a group of staff and executives took the opposite side of a client's trade. The board of the National Treasury Management Agency said on Monday that it reached its ...

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 million regulatory fine and rebuke last week, for breach of market rules, are estimated to own at least ...

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 ii platform. Equiniti said it will use the money to reduce debt, with interest costs expected to b...

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 ‘innovation partner’ in support of the venue’s programming in contemporary music, giving the ...