Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
Bond-trading scandal
The Central Bank found that Davy employees acquired bonds from a client without disclosing that they were connected to the firm. Sixteen employees were involved, including senior personnel, and the bonds were later sold to a third party at a profit.
2014
Contracts-for-difference mis-selling case
The High Court awarded more than €2 million to a vulnerable young client who had incurred substantial losses trading contracts for difference. The court found serious failures in Davy's assessment and treatment of the client.
2011
Transaction-reporting breaches
The Central Bank reprimanded and fined Davy for failing to report 61,542 transactions. The firm characterised the failures as technical reporting issues.
2005
Fyffes insider-dealing controversy
Davy was connected to a high-profile insider-dealing case involving Fyffes shares. Allegations were made about the firm's role in presenting information to investors and the relationship between Davy and the person later found responsible for insider dealing.
1999
Liechtenstein tax-scheme controversy
Davy acknowledged that representatives had devised a Liechtenstein-based tax-evasion scheme. The firm said the scheme described in the relevant memo was not used.
1990
Political-payment allegations
The Mahon Tribunal established that Davy made a series of payments to politician Liam Lawlor during the 1980s and 1990s. Davy also made a £5,000 political donation to Bertie Ahern in 1992 that ended up in his personal account.