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THE CENTRAL BANK has ordered Bloxham, one of the biggest stockbroker and asset management companies in Ireland, to cease all regulated activities with immediate effect.
The unexpected move came about after the management of Bloxham informed the Central Bank of financial irregularities at the firm when the markets closed last Thursday evening. The Central Bank has been pursuing an investigation into the company and following a definite line of inquiry.
The Central Bank ordered the company to cease trading at 5pm on Friday, but news was only released this morning about the move.
Bloxham has agreed to transfer all private clients and its fund management business to Davy in a deal worked out early this morning.
The Central Bank will continue its own investigation into the financial irregularities at Bloxham.
Calls to Bloxham and Davy were not immediately returned this morning.
And your point is?
Just thought it useful information to share with readers as its likely the website will be pulled.
That’s some investigative journalism there, mark.
I do try :)
Ah, the private sector.
What a stupid comment.
Agreed! Wait for the suits to try and shift the blame on the public sector as in the past!
What’s with the advertising?
Ireland has another dodgy financial institution does it?
Maybe we need to get a better police force and court system as a deterrent?
Nothing seems to work in law at the moment.
The PUblic Sector will pay for it- relax!!
Have they been keeping any accounts for the Vatican?
“We are proud to have been named Overall Best Bond Desk in the Finance Stockbroking Survey 2007 & 2008 in addition to Best Credit Trading Desk and Best Fixed Income Strategy House.
We provide liquidity to a wide range of institutional clients in Ireland and internationally across a wide spectrum of securities.
Our core business focuses on trade recommendations and execution in the following asset classes:
Sovereign Debt
Bank Debt
Asset Backed Securities
Covered Bonds
High Yield
Structured Products
We are active in both primary and secondary markets and we have placed over €1bn of new issue bonds into the Dublin market every year since 2005.” From their website
vultures
let the news break for gods sake!!
THE DOOM IS GETTING DOOMER! There I was thinking at least this tide of negativity will recede after this infernal negative debate over the fiscal treaty!
what is with all the negativity on Mark Malone’s comments. They are a statement of fact that is all. Some very odd remarkes there imo
By the way, I’m off to bury my last few shillings in the woods; the same as my ancestors did when the Black and Tans roamed the land!
Business is absolutely rotten in this state, the longer established, the more corrupt it is. This is not an exception but the norm. in Irish Finance.
We are the only state in western world that has never had a corporate criminal trial. What directors ever go to Jail?
It’s the inside buddys working the system, all the time.
Would Central Bank care to enforce ‘laws of the land’ without fear or favour? Further details by searching in Google for ‘Windle stops swindle’
Cheers
The Common Informer
Come on now Derek. You don’t expect people to wait until they actually understand what’s going on before they leave comments, do you?
Well covered Mark Malone.
It’s the way of Ireland.
Ducking and diving and dodgy.
How long did it take the financial regulator to stumble on this one?
So much of Ireland is still so poorly regulated. Of course if you highlighted light touch regulation in any industry you would be accused of being a begrudger and trying to cost jobs.
I think what Mark is highlighting is the absolute horse sh1te you read about some of these outfits and they are still out there. Company’s that you daren’t raise a question about.
“Tadhg Gunnell
Partner – Finance & Compliance
Tadhg joined the firm in 2000 where he took over the running of the Finance & Compliance divisions. He joined Bloxham from Deloitte, where he worked as a manager in Audit and Assurance Services since 1997″
This guys suspended and being investigated. Still more info provided in that bio – in charge of compliance – than any of the news reports so far. That is why it was posted this morning. You dig?
2 months ago Bloxham predicted turbulent times ahead for the Irish economy. And these are the ‘experts’ wheeled out regularly to offer pearls of wisdom and insight.
have your say