Central Bank of Ireland issues warning on investment firm

The regulator has said that Japanese company Drake Merger Management is not authorised as an investment firm in Ireland.

THE CENTRAL BANK of Ireland has issued a warning to investors concerning investment firm Drake Merger Management – saying the company is not authorised as an investment firm in Ireland.

The regulator says it is a criminal offence to operate in Ireland without authorisation from the Central Bank.

It has advised consumers to be aware that if they deal with an investment firm which is not authorised they are not eligible for compensation from the Investor Compensation Scheme.

The Central Bank asks anyone who has information on any unauthorised firms operating in Ireland to telephone (01) 224 4000.

Read: Central Bank names six banks which missold PPI to ineligible customers>

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