On Friday, the National Treasury Management Agency (NTMA) wrote to the board of Davy accusing it of a breach of trust and outlining its concern about the culture, behaviour, and values within Ireland’s biggest stockbroker. Now, the board of the NTMA has withdrawn Davy’s authority to act as primary dealer in Irish Government bonds with immediate effect. In a statement issued after the move was first revealed by The Currency, the NTMA said its board had reached its decision “based on its assessment of the very serious findings relating to the firm that were made by the Central Bank of…

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