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Central Bank of Ireland tells Bloxham to cease trading with immediate effect after discovery of financial irregularities. Ireland's oldest stockbroking firm has stopped trading after alleged financial irregularities were discovered. Bloxham Stockbrokers confirmed on Monday that external and internal investigations have been launched into activities at the business. The Central Bank of Ireland has directed Bloxham to cease all trading with immediate effect. Rival broker Davy said it had acquired Bloxham's asset management business.
It did not disclose the terms of the deal.
In a statement from its headquarters in Dublin, the central bank said it will continue its own investigation into financial irregularities at Bloxham. Bloxham stressed that no client funds were involved or at risk from the discovery of issues in the internal finances of the firm. It said the issues were discovered for the first time late last week after an inquiry from the central bank.
They related to the reporting and accounting of the firm's income which was overstated over a number of years. Bloxham said the financial partner of the firm was immediately suspended.
The remaining partners in the firm, who were unaware of the issues, have asked a firm of forensic accountants to verify the position and assist in further investigations.
Bloxham Stockbrokers currently employs 70 staff and 40 of these employees will transfer to Davy, but it is expected the remaining 30 will lose their jobs.
These funds are secure and will transfer to Davy. There are eight partners in ireland?s oldest stockbrokers ordered to cease trading company. Actuary jobs from home Stockbrokers were founded more than years ago and is currently based at ichimoku kinko hyo forex strategy Irish Financial Services Centre overlooking the river Ireland?s oldest stockbrokers ordered to cease trading in central Dublin.
It trades both on the Irish Stock Exchange and in the City of London. Don't Forget Your Personal Finances. The Nigerian Bond Watch — DLM. Christmas Comes Early for Nigerian ETF Investors.
Ireland's Oldest Stockbrokers, Bloxham, Suspended from The Irish Stock Exchange
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Provisional liquidator appointed to Bloxham
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Ireland's oldest stockbroking firm ordered to cease trading | Business | The Guardian
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