The Central Bank of Ireland fitness and probity investigation related to 'unauthorised creation and modification of insurance documentation'. Photograph: Alan Betson
A spokesman for law firm Fieldfisher, which represented Mr Heffernan as he resisted the regulatory ban, also declined to comment. The central bank said its fitness and probity investigation related to “matters that arise in the context of his employment at an insurance broker, including the unauthorised creation and modification of insurance documentation”.
“Persons performing controlled functions must act in accordance with the applicable standards of fitness and probity,” said Seána Cunningham, director of enforcement and anti-money laundering at the central bank. The latest set of financial accounts filed by Marsh Ireland Brokers Limited with the Companies Registration Office show that the company posted a €23.2 million pretax profit in 2022 on client service revenues of €94.6 million. That was up from a €15.7 million that was delivered on turnover of €80.6 million for the previous year.