Central Bank issues warning over investment firm

Friday 01 March 2013 16.24
The Central Bank said customers of unauthorised companies are not eligible to compensation
The Central Bank said customers of unauthorised companies are not eligible to compensation

The Central Bank has issued a warning about a company named Frank Goldenberg Yoshi (Hong Kong), which it says is offering investment services in Ireland without authorisation.

It is against the law to operate as an investment firm in the country without authorisation from the Central Bank.

The bank also said that customers that deal with such companies are not eligible for compensation from the Investor Compensation Scheme should any issues arise.

A list of unauthorised companies known to be offering investment services in Ireland is maintained on the Central Bank website.

The bank said it has issued warnings against 202 unauthorised firms since it obtained the legal power to do so in August 1998.