Settlement Agreements

Settlement Agreement between the Central Bank and C&C Group Plc

The Central Bank has entered into a Settlement Agreement with effect from 1 February 2013 with C&C Group Plc (C&C) in relation to breaches, between 2 January 2008 and 29 January 2009, of the insider list requirements of the Market Abuse (Directive 2003/6/EC) Regulations 2005 (as amended) and the Market Abuse Rules issued by the Central Bank in February 2006 and September 2008. The Agreement arises from C&C's failure to comply with its obligations in relation to the proper maintenance and updating of insider lists as required under Regulation 11 of the Market Abuse Regulations and Rule 6.1 of the Market Abuse Rules.    

Settlement Agreement between the Central Bank and Dolmen Stockbrokers Limited

The Central Bank has entered into a Settlement Agreement with effect from 12 December 2012 with Dolmen Stockbrokers Limited (the Firm) in relation to a breach of the Market Abuse (Directive 2003/6/EC) Regulations 2005 (as amended). The Agreement arises from the Firm's failure to notify the Central Bank about a client transaction which might have constituted market abuse as required under Regulation 13 of the Market Abuse Regulations.

Settlement Agreement between the Central Bank of Ireland and ICON Plc

The Central Bank has entered into a Settlement Agreement with effect from 21 November 2012 with ICON Plc (the Firm) in relation to breaches of the Market Abuse Rules issued by the Central Bank in 2009. The Agreement arises from the Firm's failure to make two market announcements within the timelines prescribed in Rule 7.2 of the Market Abuse Rules 2009. These relate to transactions conducted by two persons discharging managerial responsibilities (PDMRs) within the meaning of the Market Abuse Regulations.  

Settlement Agreement between the Financial Regulator and Allied Irish Banks, p.l.c.  

The Financial Regulator has entered into a Settlement Agreement with Allied Irish Banks, p.l.c. (AIB) on 21 May 2010. The Agreement arises from a breach, acknowledged by AIB, of an administrative requirement to regularly and promptly update an insider list in accordance with Regulation 11 of the Regulations.

Settlement Agreement between the Financial Regulator and The Irish Times Limited 

The Financial Regulator has concluded a Settlement Agreement with effect from 10 April 2008 with The Irish Times Limited in relation to a single breach which occurred of the disclosure requirements in relation to a recommendation with respect to financial instruments included in Regulation 18 of the Market Abuse Regulations. The matter has been settled on the basis that the breach is admitted and a fine of €10,000 has been imposed.  The Irish Times has confirmed that the breach was inadvertent and has advised that it has reviewed its procedures and practices to ensure more effective compliance with the Market Abuse Regulations.

Settlement Agreement between the Financial Regulator and Penfield Enterprises Ltd and Mr John Mulcahy (the publisher) 

The Financial Regulator has concluded a Settlement Agreement with effect from 30 October 2007 with Penfield Enterprises Ltd t/a The Phoenix magazine and the publisher in relation to breaches that occurred of the disclosure requirements in relation to recommendations with respect to financial instruments included in Regulations 18 and 21 of the Market Abuse Regulations. The matter has been settled on the basis that the breaches are admitted, a fine of €5,000 has been imposed and new measures are to be introduced by the company to support compliance with the Market Abuse Regulations in the future.