I propose to take Questions Nos. 143 and 144 together.
I am informed by the Central Bank that it has found approximately 128 firms/individuals to be conducting unauthorised activities in the years 2011-2016 inclusive. These unauthorised firms have been the subject of Central Bank warning notices. 110 refer to unauthorised Investment Firms, 6 refer to unauthorised Credit Institutions, 6 are in relation to unauthorised Retail Credit Firms, 3 refer to unauthorised Debt Management Firms, 2 regarding unauthorised Insurance Intermediaries, and 1 refers to a firm conducting unauthorised Mortgage Intermediary services.
The following table provided by the Central Bank details the number of firms, broken down into firm type, found to be unauthorised each year.
Warning Notices
|
Type of firms
|
Year
|
Unauthorised Credit Institution/Banking Business
|
Unauthorised Debt Management Firm
|
Unauthorised Insurance Intermediary
|
Unauthorised Investment Firm
|
Unauthorised Mortgage Intermediary
|
Unauthorised Retail Credit Firm/Money Lender
|
Grand Total
|
2011
|
|
|
|
9
|
|
|
9
|
2012
|
|
|
|
35
|
|
|
35
|
2013
|
3
|
|
|
20
|
1
|
1
|
25
|
2014
|
1
|
1
|
2
|
22
|
|
3
|
29
|
2015
|
2
|
1
|
|
8
|
|
|
11
|
2016
|
|
1
|
|
16
|
|
2
|
19
|
Grand Total
|
6
|
3
|
2
|
110
|
1
|
6
|
128
|