Central Bank issues warning on unauthorised firm

PAMELA NEWENHAM

The Central Bank has issued a warning against an unauthorised investment firm trading as GEN Equities (Ireland and Switzerland).

The entity is not authorised as an investment firm by the Central Bank.

The bank said consumers should be aware that, if they deal with a firm which is not authorised, they are not eligible for compensation from any statutory compensation schemes.

“It is a criminal offence for an unauthorised firm to provide financial services in Ireland that would require an authorisation under the relevant legislation which the Central Bank is the responsible body for enforcing,” the bank added.

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