A stockbroking firm being sued by a credit union over the way €5.3m was invested will not have to hand over reports of an Irish Stock Exchange investigation, the Court of Appeal has ruled.

GARDAÍ and the Financial Regulator are investigating a €1 million loss which may have involved fraud at Waterford Credit Union.

CREDIT unions are increasingly lending larger sums of money as borrowers seek finance for new cars, home improvements, foreign holidays and even stock exchange investments.