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Central Bank issues warning on US investment firm

The regulator has said that Elliott & Laurence Consultancy Group is not authorised in Ireland.

Image: informatique via Flickr

THE CENTRAL BANK has issued a warning about an unauthorised US investment firm operating in Ireland.

The regulator published the notice today about Elliot & Laurence Consultancy Group. It said that although the company is not authorised as an investment firm in Ireland, it has been offering services here.

It is a criminal offence for an investment firm to operate in Ireland unless it has an authorisation from the Central Bank of Ireland. Clients of such firms will not be eligible for compensation from the Investor Compensation Scheme.

The notice has been issued under the European Communities (Markets in Financial Instruments) Regulations 2007.

Any person wishing to contact the Central Bank with information may telephone 01 224 4000.

The Central Bank has issued 91 warnings, naming 168 firms, since it gained the necessary legal powers in 1998.

More: Irish Stock Exchange warns investors about ‘too good to be true’ scams>

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