Directors at Williams de Broe, the London-based stockbroker, are being investigated by its parent company, ING, over irregularities in the f...

Directors at Williams de Broe, the London-based stockbroker, are being investigated by its parent company, ING, over irregularities in the firm’s accounts, according to a report in the Financial Times. The report said ING has started disciplinary action against directors of the firm after an internal investigation uncovered an €81 million hole in the accounts of the UK stock broker, which has a sizeable private client business. Accountants from Deloitte & Touche have been examining Williams de Broe’s accounts since late last year, when an annual audit uncovered flaws in the reconciliation of the stockbroker's accounts, according to the report in the FT. As part of the internal investigation, ING has suspended John Millar, Williams de Broë's chief executive, and David Whistance, chief operating officer and former finance director. Richard Charnock, head of the private client group at the 136-year-old stockbroker, has been put in charge of the company pending the outcome of the investigation and disciplinary action. It is unclear whether the investigation involves any directors associated with the private client business. ING has owned Williams de Broe since 1998, when it bought Banque Bruxelles Lambert, the Belgian bank which had held a stake in the stockbroker since 1984.