Executive at Collapsed Irish Nationwide Gets Four-Year Ban

A former executive at the now-defunct Irish Nationwide Building Society has been banned and fined for his role in breaching financial rules during the boom, the Central Bank of Ireland’s 15-year-long probe into the lender concluded.

John Stanley Purcell — the final banker to be sanctioned as part of the inquiry — has been barred for four years from being “concerned in the management of any regulated financial service provider,” the regulator said Wednesday. He was also directed to pay a €130,000 ($147,210) penalty for his involvement in breaches between 2004 and 2008.

INBS was seized by the state ...