THE Irish Brokers Association last night denied an RTE report, that it had received a complaint regarding Taylor Asset Managers (TAM) on May 21st.

However, it admitted that it had been given "some names and "information" by a member but claimed it could not act because it had not received a complaint in writing until July 18th.

Rejecting the report on RTE, the IBA said what it called "concerns of an unspecified nature" about TAM had been "put about" by one of its members.

But the member refused to give names to the IBA or to put anything in writing although he was "consistently" requested by the IBA to do so.

The man later gave the IBA "some names in absolute confidence but could not confirm that he had any instructions from these named people".

"On foot of this information, which was not in writing, the IBA could not, despite its best efforts, substantiate these concerns.

"In the absence of: a) any communication from any investor; b) any complaint in writing from any source; c) any method of contact with the persons named by the member; or d) any form of authority to act on behalf of these alleged clients, it was neither possible nor appropriate to proceed further," it said.

"The IBA again states that the first complaint it received that something was amiss at Taylor's was on July 18th as stated in its earlier statement of today's date and this was at the insistence of the IBA that the complaint be in writing according to proper procedure," it said.