The Financial Regulator published a warning notice on two firms: Borsa Financial (Italy) and New Century Capital (Austria and the United Kingdom). These firms are not authorised as investment firms in Ireland and have been offering investment services to members of the Irish public.

It is a criminal offence for an investment firm to operate in Ireland unless it has an authorisation from the Financial Regulator. Clients of unauthorised firms are not eligible for compensation from the Investor Compensation Scheme.

Any person wishing to contact the Financial Regulator with information regarding such firms may telephone 1890-200-469. 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, 81 warnings naming 154 firms have been issued. A list of all warning notices issued to date is available on the website www.financialregulator.ie

Article Published: 30/06/2010