REDRESS payments to clients of failed stockbroking firm W&R Morrogh are to exceed €5.2m after the Investor Compensation Company decided to cover extra losses arising out of the liquidation of the company.

FINANCE Minister Charlie McCreevy is investigating changing legislation following a High Court ruling which permits the confiscation of client funds held in trust to pay the costs of a receiver.

THE security of billions of euro in shares held electronically for Irish shareholders will be compromised if the country's top liquidator succeeds in selling shares held in trust by a stockbroking firm in receivership.