Financial Regulator warns about three firms
The Financial Regulator has published a warning notice on three firms: MJM Investments (Belgium), Montgomery Blake & Associates (China and Singapore) and The Morgan Stern Group (Ireland).
It said MJM Investments and Montgomery Blake & Associates were not authorised as investment firms in this country and had been offering investment services and/or investment advice to members of the public.
The Morgan Stern Group was not authorised as an investment firm in this country and might be claiming or holding itself out to be an investment firm based here.
It said it is a criminal offence for an investment firm to operate here unless it had an authorisation from the Financial Regulator.
Clients of unauthorised firms were 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, 78 warnings naming 147 firms have been issued. A list of all warning notices is available on the website www.financialregulator.ie
The Financial Regulator’s personal finance website, itsyourmoney.ie has information, in plain English, on frauds and scams and tips on how to protect yourself. It also has a section on savings and investments.
The Financial Regulator’s consumer Information Centre is located on 6-8 College Green, Dublin 2. All publications can be downloaded from the Regulator’s website at www.itsyourmoney.ie / www.financialregulator.ie or from the consumer helpline on 1890 777777.
Article courtesy of The Evening Echo newspaper.
