Report of the 'Morrogh' Working Group

W&R Morrogh Stockbrokers ceased trading in April 2001 on the direction of the Central Bank and lengthy legal proceedings followed. The Morrogh case highlighted certain important issues in relation to investor compensation arrangements and the management of liquidations / receiverships in the event of the failure of an investment firm.

On 30th March 2004, the Minister for Finance announced the establishment of a Working Group to examine the issues arising from the Morrogh case. Membership was drawn from a wide range of Governmental, financial industry, regulatory and consumer protection interests. The Department of Finance chaired the Group and also provided the Secretariat.

The Working Group established two sub-groups to examine (i) legislative and regulatory issues and (ii) investor compensation funding arrangements. The Final Report of the ‘Morrogh’ Working Group was published by the Department of Finance on 1 November 2006. Click here to view the Report of the 'Morrogh' Working Group.