Warning on Unauthorised Firm – ABSL Fund Plc (CLONE)

It has come to the attention of the Central Bank of Ireland (‘Central Bank’) that a firm, calling itself ABSL Fund Plc (Ireland) - https://abslfundplc.com has been operating as an investment firm / investment business firm in the State in the absence of an appropriate authorisation. 

This unauthorised firm has cloned the name of a company called ‘ABSL Umbrella UCITS Funds plc’, which is a company that is authorised by the Central Bank. 

It should be noted that there is no connection whatsoever between the company authorised by the Central Bank and the unauthorised entity that has cloned its details. 

A list of unauthorised firms published to date is available on the Central Bank website.

It is a criminal offence for an unauthorised 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.  Consumers should be aware that if they deal with a firm, which is not authorised, they are not eligible for compensation from the Investor Compensation Scheme. 

For further information, please visit the Avoiding Scams and Unauthorised Activity section of the Central Bank’s website. 

Any person wishing to contact the Central Bank with information regarding such firms / persons may telephone (01) 224 4000. This line is also available to the public to check if a firm is authorised.

Notes

The name of the above firm is published under the Central Bank (Supervision and Enforcement) Act 2013.