Central Bank fines investment firms Octagon Online Services and Lambay Capital

Two investment firms have been fined a combined €154,000 by the Central Bank for regulatory breaches.

The bank’s enforcement division yesterday confirmed settlements with Octagon Online Services to the tune of €105,000, and Lambay Capital, which trades as MKW Futures, for €49,000 regarding breaches of obligations. Both firms had previous instances of such failures.

Octagon acts as an intermediary for investors looking to deal in US-based securities and it earns commission on each trade placed by clients.