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Bloxham forced to cease trading

Irish stockbroker Bloxham has been forced to stop trading on accounting irregularities.

KPMG has been hired to examine the 150-year old firm's books, while the Central Bank of Ireland has also launched an investigation.

According to reports the firm wrongly said it was holding reserve assets of €5.8 million, which had allowed it to continue trading as a stockbroker.

Bloxham is reported to have said: 'On foot of their initial investigations the remaining partners in the firm, who were unaware of these issues, have asked a firm of forensic accountants to verify the position and assist in further investigations.'

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