, the deputy governor for prudential regulation. “Davy prioritised facilitating an opportunity for a consortium of 16 employees to make personal financial gain over ensuring that it was complying with its regulatory obligations,” Ms Rowland will say.
The committee will hear that bank policy is to publish detailed statements on enforcement actions. “We do this because we believe sunlight is the best disinfectant. Publicised enforcement outcomes send a wider message to firms and individuals to drive improvements in compliance, behaviours and culture across the financial system.”
The bank has to date concluded 141 enforcement actions, resulting in monetary penalties of more than €128 million.
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