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. Still, she highlighted that the Central Bank has a “track record” of taking action against individuals. The Central Bank concluded that Davy breached EU market rules by not identifying whether a conflict of interest arose from the deal. “The enforcement investigation certainly caused a day of reckoning for Davy with respect to their governance, conduct and culture,” said Ms Rowland. Ms Rowland said that the Central Bank is precluded from identifying members of the consortium of 16 involved in the transaction.

Source: The Irish Times March 09, 2021 16:30 UTC