January 27, 2017: 2 unauthorized Irish investment firms

Central Bank of Ireland Issues Warnings on two Unauthorised Investment Firms/Investment Business Firms  

 

27 January 2017

The Central Bank of Ireland (‘Central Bank’) has today published the names of the following unauthorised firms: 

  • Drakefield Corporate Partners (USA) 
  • Colbert & Welling LLP (USA) 

These firms are not authorised by the Central Bank as investment firms, investment business firms or to provide investment advice.

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

It is a criminal offence for an unauthorised firm/person 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.  Consumers should be aware that, if they deal with a firm/person who 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/persons may telephone (01) 224 4000. This line is also available to the public to check if a firm/person is authorised. Since obtaining the necessary legal powers in August 1998, the names of 285 unauthorised firms/persons have been published by the Central Bank.

Note:

The name of the above firm/person is published under the Central Bank (Supervision and Enforcement) Act 2013.

Link:

Central Bank of Ireland Notice

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s