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C Bank warning on 6 investment firms

Friday, September 14 10:28:31

The Central Bank this morning warned investors and the public to beware of six investment firms who claim to be legitimate investment firms but have no legal right to operate here.

The financial watchdog said that Bond Asset Management (UK, Germany and Hong Kong), Profidex Limited (Japan), Sun-Wealth Corporate Finance (Japan), Zheng Bridge Capital (China), CT Lambson and Associates, LLC (USA), have been offering investment services to members of the Irish public and are not authorised as investment firms in Ireland.

MMA Capital Markets Limited, also known as MMA Forex and MMA FX is claiming or holding itself out as an investment firm in the State. This firm also purports to be based in the United Arab Emirates.

The Central Bank pointed out that it is a criminal offence for an investment firm to operate in Ireland unless it has an authorisation from the Central Bank of Ireland. Consumers should be aware that, if they deal with an investment firm which is not authorised, they are not eligible for compensation from the Investor Compensation Scheme.

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