Warning issued on Unauthorised Investment Firm - GetcoPro

The Central Bank of Ireland (‘Central Bank’) today (3 April 2018) published the name of an unauthorised firm, GetcoPro (United Kingdom) – www.getcopro.com.  GetcoPro is not authorised by the Central Bank as an investment firm or to provide investment advice.

GetcoPro, claim on its website, that it is connected to an authorised entity called Andreas F. Bauer.  It should be noted that Andreas Ferdinand Bauer, which is registered as an insurance intermediary with the Federal Ministry for Digital and Economic Affairs (BMDW) in Austria (and which is permitted to operate in the State), has no connection whatsoever to GetcoPro.

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

It is a criminal offence for an unauthorised firm/person to provide financial services in Ireland that would require an authorisation under the relevant legislation which the Central Bank is the responsible body for enforcing. Consumers should be aware, that if they deal with a firm/person who is not authorised, they are not eligible for compensation from the Investor Compensation Scheme.

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. Since obtaining the necessary legal powers in August 1998, the names of 309 unauthorised firms have been published by the Central Bank.