Warning against Equities Europe and Olta Capital Management Inc.

Investor warning

Financial Regulator Issues Warning on Investment Firms

The Financial Regulator today (Thursday 21 January 2010) published a warning notice on two firms: Equities Europe (Ireland) and Olta Capital Management Inc. (Ireland and Luxembourg), which are not authorised as investment firms in Ireland and they may be claiming or holding themselves out to be investment firms based here. The notice is published today in Irish daily newspapers under the European Communities (Markets in Financial Instruments Regulations) 2007.

It is a criminal offence for an investment firm to operate in Ireland unless it has an authorisation from the Financial Regulator. Clients of unauthorised firms are not eligible for compensation from the Investor Compensation Scheme.

Any person wishing to contact the Financial Regulator with information regarding such firms may telephone 1890-200-469. This line is also available to the public to check if an investment firm is authorised. Since obtaining the necessary legal powers in August 1998, 79 warnings naming 149 firms have been issued. A list of all warning notices issued to date is available on the website www.financialregulator.ie.

The website, www.itsyourmoney.ie has information, in plain English, on frauds and scams and tips on how to protect yourself. It also has a section on savings and investments, which details the issues you should consider before you start saving and investing and gives information on the most common types of savings and investment products.

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For further information please contact:
Press Office – Paul Gray (01) 224 6299