Davy scandal highlighted 'weak internal controls', says Central Bank

Oireachtas Finance Committee will hear the reprimand and fine imposed on Davy reflects the serious regulatory breaches and lack of candour when first reporting the matter to the Central Bank

The Davy scandal highlighted 'weak internal controls' when it came to conflicts of interest, the Central Bank will tell TDs on Tuesday. Picture: Sam Boal/RollingNews.ie

The Davy scandal highlighted "weak internal controls" when it came to conflicts of interest, the Central Bank will tell TDs on Tuesday.

In remarks set to be delivered to the Oireachtas Finance Committee, Derville Rowland, director general, Financial Conduct, will say such weaknesses served to create an elevated risk of investor detriment.