Central Bank of Ireland Issues Warning on Unauthorised Firm  Ellis & Reid Investments

It has recently come to the Central Bank of Ireland’s (‘Central Bank’) attention that a firm, calling itself Ellis & Reid Investments, has been operating as an investment firm in the State in the absence of an appropriate authorisation.  This firm is not authorised by the Central Bank as an investment firm, investment business firm or to provide investment advice.

It is a criminal offence for an unauthorised firm/person to provide financial services in Ireland that would require an authorisation.  Consumers should be aware that, if they deal with a firm/person who 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/persons may telephone (01) 224 4000.  This line is also available to the public to check if a firm is authorised.  Since obtaining the necessary legal powers in August 1998, the names of 275 unauthorised firms have been published by the Central Bank.