Davy apologises after initially downplaying wrongdoing in its €4.1m fine from Central Bank 

Broker apologised "unreservedly and unequivocally that these failures occurred". Picture: Sam Boal/RollingNews.ie

Davy bosses were forced into a grovelling U-turn after Ireland's largest broker appeared to deny wrongdoing in a deal that led to it being fined €4.1m by the Central Bank.   

The scandal had threatened to build into a full-scale political row involving finance minister Paschal Donohoe, because the firm holds a lucrative Government contract from the National Treasury Management Agency (NTMA) to help sell Irish sovereign bonds.