Jim Mannion & Co Limited

PO BOX 9138 T +353 1 224 4000 College Green F +353 1 224 6022 Dublin 2 Settlement Agreement between the Financial Regulator and Jim Mannion & Co (Insurances) Limited The Financial Regulator has entered into a Settlement Agreement with effect from 17 February 2010 with Jim Mannion & Co (Insurances) Ltd Strokestown, Co. Roscommon, a regulated financial service provider, in relation to breaches of regulatory requirements. The breaches relate to a failure to comply with provisions of the Consumer Protection Code and section 30 of the Investment Intermediaries Act 1995. These breaches relate to the sale of an unsuitable investment product, the Friends First ISTC Creative Bond, in that the firm failed to properly inform one customer about the investment risks and guarantee limitations associated with this bond. Additional breaches occurred with the sale of other products and related to a failure to record certain customers’ information, failure to provide a customer with a copy of the firm’s terms of business prior to providing a service to that customer, failure to issue statements of suitability to certain customers prior to providing a service to those customers as required by the Consumer Protection Code. The breach of section 30 of the Investment Intermediaries Act 1995 relates to a failure to issue receipts to certain customers for payments received for onward transmission to insurers. The Financial Regulator is satisfied that the failure by the firm to issue section 30 receipts did not result in financial loss to any customers.