THE CENTRAL BANK has issued a warning on an unauthorised investment firm.
According to the Central Bank of Ireland, Lehman Reilly (Ireland) is claiming to be or holding themselves out to be an investment firm in the State and has been offering investment services to members of the Irish public.
It says Lehman Reilly is not authorised as an investment firm in Ireland. It is a criminal offence for an investment firm to operate in Ireland unless it has an authorisation from the Central Bank of Ireland.
Consumers should 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.
Any person wishing to contact the Central Bank of Ireland with information regarding such firms is invited to telephone 01 224 4000. This line is also available to the public to check if an investment firm is authorised.
Since obtaining the necessary legal powers in August 1998, the names of 196 unauthorised firms have been published by the Central Bank.