The Central Bank has warned the public about three unauthorised investment firms operating in Ireland. In notices published earlier this week the Bank named New York-based GKN Securities, Oscar Gruss & Sons and GSG Securities as firms recommending share purchases to the public.

It is a criminal offence for an investment firm to operate in the Republic unless it has an authorisation from the Central Bank and clients of unauthorised firms are not eligible for compensation from the Investor Compensation scheme.

Any person wishing to contact the Central Bank with information regarding these firms may telephone the Bank's enquiry line at 1890 200 469.

This line is also available to the public to ascertain if an investment firm is authorised before making an investment.