The ruling marks the first time that anyone has been formally sanctioned after being found to have engaged in insider dealing following a regulatory investigation of this type.
The insider information related to the recruitment of a new chief executive of the company, John Dunsmore, senior counsel Remy Farrell for the Central Bank assessment panel told the court. A high-profile businessman, Mr Lynch had previously been a chief executive of publicly listed companies, IAWS and One51.
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