Tuesday, March 05 11:02:42
The Central Bank today published the name of an unauthorised investment firm, Lawrence James and Associates (USA).
The regulator said that this firm has been offering investment services to members of the Irish public and is not authorised as an investment company in Ireland.
It warned 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," the Central Bank said.
Since obtaining the necessary legal powers in August 1998, the names of 203 unauthorised firms have been published by the Central Bank.