The Financial Regulator has handed out its biggest fine to a financial services company since it was set up.
It fined stockbroker Fexco €80,000 and reprimanded the company over breaches of a number of rules covering stockbroking firms.
In a statement the Financial Regulator said the breaches of regulatory requirements had occurred in relation to the failure of Fexco Stockbroking Limited to have adequate control systems to ensure compliance with Client Money Requirements and failures to develop and maintain systems to monitor and control credit risk.
The breaches resulted in no loss to any customer and no client made a complaint.
The Regulator said Fexco Stockbroking had brought the issues to its attention and co-operated with the examination.
The matter was now closed.
