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The director of the penalized company sits on the board of directors of the owner of the Irish stock exchange

A director of a fund management company sanctioned by the Central Bank following a “deliberate” breach of financial regulations by a delegate, retains a seat on the supervisory board of Euronext, owner of the Irish Stock Exchange (ISE).

adraic O’Connor, former managing director of NCB Stockbrokers and former chairman of ISE, is a director of Sarasin Funds Management Ireland Limited (SFMIL), which was fined € 385,000 this week and reprimanded by regulators for “Violations of investment restrictions and inadequate supervision of delegates”.

Mr O’Connor became known to the public at the Mahon court in 2007 when then taoiseach Bertie Ahern claimed the broker had given him £ 5,000 to help cover his personal costs following his separation.

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