Central Bank's warning on unauthorised firm
The Central Bank warned this morning that Hill Law Associates (USA) is not authorised to provide investment services in Ireland.
The name of the above firm is published under the Central Bank (Supervision and Enforcement) Act 2013.
Unauthorised
A list of unauthorised firms 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.
The Central Bank is the responsible body for enforcing this legislation.
Compensation
It says that consumers should be aware, that if they deal with a firm/person which is not authorised, they are not eligible for compensation from the investor compensation scheme.
Anyone wishing to contact the Central Bank with information on such firms/persons can call (01) 224 4000. This line is also available to the public to check if a firm is authorised.
Since obtaining the necessary legal powers in August 1998, the names of 365 unauthorised firms have been published by the Central Bank.