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Central Bank warns about investment firm

Tuesday, October 30 11:45:11

The Central Bank of Ireland today published the name of an unauthorised investment firm.

The financial sector watchdog said that Lehman Reilly (Ireland) is claiming to be or holding themselves out to be an investment firm in the State and has been offering investment services to members of the Irish public and is not authorised as an investment firm in Ireland.

A list of unauthorised firms published to date is available on the Central Bank website.

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, the Central Bank warned.

Since obtaining the necessary legal powers in August 1998, the names of 196 unauthorised firms have been published by the Central Bank.

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