Public statement relating to Settlement Agreement between the Financial Regulator and Mr John Gurhy

• Date: 08 April 2009

PO BOX 9138 T +353 1 410 4000

CollegeF +353 1 410 4900 Green

Dublin 2

Settlement Agreement

between the Financial Regulator and Mr John Gurhy

The Financial Regulator has entered into a Settlement Agreement with effect from

8 April 2009 with Mr John Gurhy t/a Gurhy Properties & Financial Services, The

Debt Doctor, an authorised mortgage intermediary in relation to breaches of

regulatory requirements.

The Financial Regulator has reasonable cause to suspect that breaches of

regulatory requirements occurred in relation to the failure of Mr John Gurhy t/a

Gurhy Properties & Financial Services, The Debt Doctor to comply with certain

provisions of the Consumer Protection Code and the Consumer Credit Act, 1995,

as amended.

The Financial Regulator suspects that Mr John Gurhy t/a Gurhy Properties &

Financial Services, The Debt Doctor facilitated unauthorised business, by allowing

unauthorised persons to transact mortgage intermediation business through his

firm.

These suspected breaches also relate, among other things to, a failure to act

honestly, fairly and professionally in the best interests of his customers and the

integrity of the market, a failure to gather and record sufficient information from

certain customers, a failure to issue statements of suitability to certain

customers, a failure to provide certain customers with a statement outlining

details of the fee payable, a failure to submit to a mortgage lender a signed

declaration stating that the firm had sight of all original supporting

documentation,a failure to provide certain customers with a terms of business

anda failure to maintain up to date consumer records.