Davy stockbrokers has made an ‘unreserved and unequivocal apology’ ahead of the Oireachtas finance committee later today.
In a letter to the committee, interim CEO Bernard Byrne pledges to restore public trust and ensure there’s no repeat of the saga.
The Central Bank will appear before the committee today, and will call for more powers to make individuals accountable.
It fined Davy 4.1 million euro last week, after 16 of the broker’s own staff were involved in wrongful trading practices in 2014.
On the Morning Mix, editor of the Currency and Enniscorthy man Ian Kehoe explained that if the Senior Executive Accountability Regime was implemented, the staff wouldn’t have gotten away so easily: