Press Releases

Warning on Unauthorised Firm – MAN Asset Management (CLONE)

18 December 2020 Press Release

Warning

It has come to the attention of the Central Bank of Ireland (‘Central Bank’) that MAN Asset Management (Ireland and United Kingdom) – www.man-am.com (no longer operational) has been operating as an investment firm / investment business firm in the State in the absence of appropriate authorisations. 

This unauthorised firm has cloned the details (name and registered address) of a Central Bank authorised firm, Man Asset Management (Ireland) Limited. Furthermore, the unauthorised firm have cloned the details (FCA registration number) of an FCA authorised firm based in the United Kingdom.

It should be noted that there is no connection whatsoever between the Central Bank authorised firm and the unauthorised entity that has cloned its details. It should also be noted that there is no connection whatsoever between the FCA authorised firm 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 and from 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 that is not authorised, they are not eligible for compensation from the Investor Compensation Scheme. 

Fraudsters are increasingly using legitimate firms’ details to add an air of legitimacy to their fraud. The fraudsters will 'borrow' some or all of the legitimate information of an authorised / legitimate firm for the purpose of this fraud. They may quote authorisation numbers / company registration numbers and links to seemingly legitimate websites and even provide the real address of an authorised / legitimate firm.  Consumers are advised to check our register to verify a firm’s details and to call the firm back directly using its advertised phone number.

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.

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