Investment firm faces probe over bond sale
TWO Central Bank inspectors have been appointed by the High Court to investigate an investment fund company following allegations of breaches of regulatory requirements in the sale of a property-related investment bond.
Mr Justice Gerard Hogan yesterday confirmed the appointment of the inspectors to Custom House Capital Ltd, with registered offices in Merrion Square, Dublin.
The company reported to the Central Bank last March that it had around €1.15bn in assets under its management on behalf of clients.
On Friday last, Mr Justice Hogan made orders for the appointment of George Treacy, head of the Central Bank's investments service providers supervision division; and Noel Thompson, an authorised officer within that division, as inspectors to Custom House.
The orders were made following an application by the Central Bank under the EC (Market in Financial Instruments) Regulations 2007, known as the MiFID Regulations. The case was adjourned until next week.