Goodbody Stockbrokers fined over €1.2m by Central Bank over rules breaches

Goodbody failed to identify critical market abuse risks to which it was potentially exposed as a result of its business model and activities.

Goodbody Stockbrokers has been fined over €1.2m by the Central Bank of Ireland for failing to properly implement a framework to monitor and detect suspicious transactions.

Under article 16 (2) of the Market Abuse Regulations, firms that professionally arrange or execute transactions are required to establish and maintain effective “arrangements, systems and procedures to detect and report suspicious orders and transactions”.