Central Bank issues warning on firm

The Central Bank of Ireland this morning warned investors that CMBS Portfolio is not authorised by the Central Bank to provide any financial services.

According to the Central Bank, it is a criminal offence for an unauthorised firm to provide financial services in Ireland that would require an authorisation under the relevant legislation for which the Central Bank is the responsible body for enforcing. If consumers do deal with a firm which is not authorised, they are not eligible for compensation from the Investor Compensation Scheme.

Any person wishing to contact the Central Bank of Ireland with information regarding such firms may telephone (01) 224 4000. This line is also available to the public to check if a firm is authorised.

A list of unauthorised firms published to date is available here.

Since obtaining the necessary legal powers in August 1998, the names of 210 unauthorised firms have been published by the Central Bank.