This week the Central Bank published a warning notice naming two more investment firms that are operating illegally in the Republic.
The warning notices named Smith & Henderson Associates, located in China and Spain, and Bull & Bear Capital Management, located in Spain and Switzerland. The firms have been offering various investment business services to members of the Irish public.
It is a criminal offence for an investment firm to operate in the State without authorisation from the Central Bank.
Clients of unauthorised firms are not eligible for compensation from the Investor Compensation Scheme. Anyone wishing to contact the Central Bank with information regarding such firms may call the bank's enquiry line 1890 200 469.
Since obtaining the legal powers to publicly warn about unauthorised firms in August 1998, the bank has issued 36 warnings naming 74 firms.
The 13 firms named by the Central Bank this year are: Gerson Lehmann, Thailand; Crown Capital Management, Bahamas; Morrison Cross Financial Investment, Panama; International Consortium Growth Holdings, USA and Bahamas; Taylor Atlantic, Malaysia; Saloman Grey Financial Corporation, USA; JP Turner & Company, USA; Mason, Tait & Montgomery, Singapore; The Pembridge Group, Hong Kong; Cohen Nesbit Group, Singapore; Barrington Consultants, The Philippines; Smith & Henderson Associates, China and Spain; Bull & Bear Capital Management (BVI), Spain and Switzerland.
