THE CENTRAL BANK has issued a warning about two investment firms and said that they are not authorised to offer services in Ireland.
Global World Mergers & Acquisitions (registered in Hong Kong) and Monarch Wealth Consultants (registered in Japan) have been offering investment services in the State – despite being not authorised to do so.
It is a criminal offence for an investment firm to operate in Ireland unless it has authorisation from the Central Bank. Clients of firms acting without authorisation are not eligible for compensation under the Investor Compensation Scheme.
Anyone with information on unauthorised firms has been asked to contact the Central Bank.
The Central Bank has issued a total of 92 warning notices naming 170 firms since obtaining the necessary legal powers in August 1998.
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