Stockbrokers’ shortfall undiscovered for five years

The Central Bank investigation into the collapse of Bloxham stockbrokers will focus on how the company managed to conceal a multimillion-euro shortfall in minimum capital requirements for a number of years.

There was shock across the IFSC when it emerged Bloxham had been incorrectly reporting its accounts since 2007.

“Internal issues were discovered by the firm for the first time late last week on foot of an enquiry from the Central Bank,” said a Bloxham spokesperson.