Warning to deal with authorised firms only

CONSUMERS were warned yesterday only to deal with financial firms offering financial advice approved by the Irish Financial Services Regulatory Authority.

The authority publishes a warning notice today in Irish daily newspapers under the Investment Intermediaries Act, 1995 on Pearson Clarke LLP (Canada).

“This firm has been offering investment advice and/or investment business services to members of the Irish public,” the authority states.

“It is a criminal offence for an investment firm to operate in Ireland unless it has an authorisation from the Financial Services Regulator and clients of unauthorised firms are not eligible for compensation from the Investor Compensation scheme,” it adds.

Consumer Director, Mary O’Dea said: “If you receive an approach from a firm check first whether they are authorised to sell investment services in Ireland. Never give your bank account number and personal finance details over the phone.”

Any person wishing to contact the Financial Services Regulator with information regarding such firms may telephone [phone]. A list of all warning notices issued to date is available on the website: www.ifsra.ie.