LGIM Managers (Europe) Limited (CLONE) - Central Bank of Ireland Issues Warning on Unauthorised Firm

What Changed

• - The CBI has formally designated “LGIM Managers (Europe) Limited (CLONE)” as an unauthorised investment firm / investment business firm and published its details on the CBI unauthorised firms list under section 53 of the Central Bank (Supervision an
• The CBI has explicitly stated that the clone entity is not authorised to operate as an investment firm or investment business firm in Ireland, thereby clarifying that any investment services offered by this entity to Irish clients are unlawful.
• The warning identifies specific contact details associated with the scam, including email addresses info@lgimeu.com (now inactive) and office@bunqpartner.com, a purported address at Friedrich‑Ebert‑Anlage 49, 60311 Frankfurt am Main, and phone number
• The CBI has confirmed that the clone has copied the name and registration details of the legitimate CBI‑authorised firm LGIM Managers (Europe) Limited (C173733), while emphasising that there is no connection whatsoever between the authorised firm and
• By publishing the firm under section 53 of the Central Bank (Supervision and Enforcement) Act 2013, the CBI has activated its statutory regime for public warning notices on unauthorised firms, signalling that any unauthorised provision of financial s
• The notice reiterates the CBI’s expectation that consumers and firms verify authorisation status via the CBI register and report suspected unauthorised activity through dedicated channels, strengthening the regulator’s intelligence‑gathering on scams

Suggested Considerations

• Update customer‑facing fraud warnings, website scam information pages, and client communications to include reference to the CBI warning on the LGIM clone and to explain how clients can verify whether a firm is authorised in Ireland.
• Enhance onboarding and periodic KYC / KYB procedures to include independent verification of counterparties’ authorisation status on the CBI register and cross‑check any claimed partnership with LGIM Managers (Europe) Limited, bunq Bank, or similar institutions.
• Implement or update internal guidance requiring staff to escalate immediately any client queries, introductions, or marketing materials referencing “LGIM Managers (Europe) Limited (CLONE)” or using the listed contact details to the compliance and financial crime teams.
• Conduct a targeted review of recent and ongoing distribution, referral, and introducer arrangements to identify any potential exposure to unauthorised clone entities or intermediaries misusing the LGIM brand or falsely claiming CBI authorisation.
• Train frontline staff, relationship managers, and call‑centre agents on the specific red flags associated with clones of authorised firms, including copied registration details, foreign addresses, and use of generic email domains, and on the process for verifying authorisation with the CBI.
• Align internal policies with CBI expectations by explicitly requiring verification of regulatory status and authorisation permissions for all third‑party investment offerings marketed to Irish‑resident clients, including cross‑border and online propositions.

Key Dates

Who is Affected