Central Bank issues warning about unauthorised firm

The Central Bank has published the name of an unauthorised investment firm, which it says is trading here illegally.

Citystate Consulting Co (USA) is not authorised as an investment firm, the bank said today.

"It is a criminal offence for an unauthorised person or firm to provide financial services in Ireland that would require an authorisation under the relevant legislation for which the Central Bank is the responsible body for enforcing," it said in a statement.

Consumers should be aware that if they deal with a person or firm which is not authorised, they are not eligible for compensation from the Investor Compensation Scheme, the bank added.