The NTMA has indicated its close relationship to Davy Stockbrokers could be thrown into doubt after the firm was hit by a record €4.13m regulatory fine. Davy has a prized status as an National Treasury Management Agency (NTMA) primary dealer in Irish government bondsThe NTMA, which managed government borrowing including appointing dealers and managers for billions of euro in bond deals has indicating its relationship with Davy may be in doubt. "The NTMA notes the very serious findings by the Central Bank in this matter. An initial memo circulated on Tuesday included some comments that went beyond the agreed wording of the settlement agreement with the Central Bank that included the fine. The Central Bank said it could not comment on the individual incident involved in the case.

Source: Irish Independent March 03, 2021 11:37 UTC