The Central Bank has warned that two overseas companies - Evergreen International Spot Trading and First Capital Securities - are unauthorised to trade as investment business firms in the State. Evergreen, registered in the US, has been recommending foreign currency futures and foreign currency options trading, while First Capital, a Swiss company, has been soliciting people with share purchase recommendations.

A Central Bank spokesman said that cold-calling - ringing prospective customers and offering investment opportunities - was illegal.

"These firms may not market or sell securities or other investment products or otherwise act as investment business firms," the Central Bank stated.

Since August 27th, 1998, the Central Bank has issued warning notices on 29 unlicensed companies.