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Member, Beacon International Group, Ltd.
The Central Bank of Ireland is likely to levy a fine of up to €5 million ($5.4 million) on London-based insurer RSA Insurance Group P.L.C. for financial irregularities in 2013, reported The Irish Times.
An investigation is being conducted by the bank regarding the matter and the results are likely to come out in late 2015.
The central bank might reduce the fine to €3.5 million ($3.7 million) if it finds that the insurer has co-operated with the investigation and taken adequate steps to remedy the situation.