The Central Bank of Ireland ("the Central Bank") has entered into a Settlement Agreement with effect from 21 March 2012 with Merrion Stockbrokers Limited ("the firm"), a regulated financial services provider, in relation to breaches of Regulations 112 and 33(1)(a) of the European Communities (Markets in Financial Instruments) Regulations 2007 ("the MiFID Regulations").
The breaches identified are:
1) The firm failed to report a total of 12,020 transactions in financial instruments, which were admitted to trading on a regulated market or on a MTF operated by a market operator, to the Central Bank by close of the following working day following the execution of the transaction, as follows:
- on 14 July 2010, the firm failed to report details of 373 transactions;
- on 14 October 2010, the firm failed to report details of 327 transactions;
- on 23 November 2010, the firm failed to report details of 612 transactions; and
- between 1 November 2007 and 26 August 2011, the firm failed to report detail